EURUSD Don't get Spiked in FOMC aftermath
Eur stays under pressure whilst trapped within the parallels -
a break above the upper parallel means trend change back to
positive for EUR - not a spike above the parallel (FOMC) - a
successful break and hold on retest to know that trend is
changing back to positive for EUR.
Update: A fantastic break that we usually only see in the crypto markets. But today the fiat paper currencies caught the fever. EUR is strong above support at 1.1813 and should bounce here at lowest on any consolidation from here before rallying further to 1.1880
*The first section was written for hedge funds ready for the run up and aftermath of FOMC meeting - to simplify and de-noise the event
It's not much use for trading purposes now (TV had an embargo limit running 24 hours ago when it was uploaded and thought it would do it automatically when time limit expired. Wrong. So many limits to getting information out with so many markets to cover. This is not the way.
But the price action here is worth uploading for newer traders: put the parallels on your own chart with a 5 minute chart and see how perfectly EUR comes back to test the parallel from above - one last perfect kiss - before it flies higher through uncontested space above it. The whipsaw you see is normal crap after an FOMC meeting - but out of chaos emerges perfect order. Just takes a little time. You don't need to get caught in the noise. You need to get caught in the aftermath. Sometimes it pays to wait. Hedge funds do. Why not you?
Eur stays under pressure whilst trapped within the parallels -
a break above the upper parallel means trend change back to
positive for EUR - not a spike above the parallel (FOMC) - a
successful break and hold on retest to know that trend is
changing back to positive for EUR.
Update: A fantastic break that we usually only see in the crypto markets. But today the fiat paper currencies caught the fever. EUR is strong above support at 1.1813 and should bounce here at lowest on any consolidation from here before rallying further to 1.1880
*The first section was written for hedge funds ready for the run up and aftermath of FOMC meeting - to simplify and de-noise the event
It's not much use for trading purposes now (TV had an embargo limit running 24 hours ago when it was uploaded and thought it would do it automatically when time limit expired. Wrong. So many limits to getting information out with so many markets to cover. This is not the way.
But the price action here is worth uploading for newer traders: put the parallels on your own chart with a 5 minute chart and see how perfectly EUR comes back to test the parallel from above - one last perfect kiss - before it flies higher through uncontested space above it. The whipsaw you see is normal crap after an FOMC meeting - but out of chaos emerges perfect order. Just takes a little time. You don't need to get caught in the noise. You need to get caught in the aftermath. Sometimes it pays to wait. Hedge funds do. Why not you?