Early Sunday and we are just peeking at the market. I have 2 areas of Interest. They are price levels 1.3050 region and the 1.3000 price level. At these points we should be able to get a glimpse of WHO actually wants to sell & buy. Before we as retail traders can make any decisions we need to KNOW what the institutional money wants to do.
The 1.30 & 1.305 price levels should give us a good indication of how to proceed. There is even the possibility of entering the market as the money moves to one of these levels. However caution MUST be used if we do so. The areas in between these levels will be ripe with ambushes and set-ups.
Hopefully the price levels in between 1.30 & 1.305 will have some well structured movement where we can place some well calculated binary options bets also...
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The 1.30 & 1.305 price levels should give us a good indication of how to proceed. There is even the possibility of entering the market as the money moves to one of these levels. However caution MUST be used if we do so. The areas in between these levels will be ripe with ambushes and set-ups.
Hopefully the price levels in between 1.30 & 1.305 will have some well structured movement where we can place some well calculated binary options bets also...
Join the "FOLLOW ME" Service and Take the Same Trades I Do !
Comment:
Market moves close to the 1.3045 mark then retreats. Currently our bias is short. Possibly shorting to the 1.30 level. But before we make such assumptions lets see how the market handles 1.3030..
Comment:
Bull Rally Begins somewhat... IF it fails THEN we... possible SHORT
Comment:
1.3040 BUY to test 1.3045 .. Enough to cover spread and make it a free trade is all goes well. If not we are out with very minimal loss if any ...
Comment:
Easy 10 pip. However NOT my type of trade. I like my trades short and sweet. This trade was a long process. As I continue, I'll start shortening our trade time.