EU - where is it going next?
- Thread starter Steve
- Start date
Where is it going? I don't know and I don't care that much at the moment. It's not that I gave up trading - it's only temporary till maybe middle of January. I would say (based on my experience) it's a good idea to avoid trading around Christmas.
I wish you a Merry Christmass and Happy New Year!
I wish you a Merry Christmass and Happy New Year!
Everyone and his brother, sister, and cousin are short EUR/USD.
Why don't you take a long and confuse them all?
Of course, I'm not saying to just jump in. You may be better off to wait for few conditions before doing that - see the attached chart. Also the chart is daily and is here only for guidance.
The idea would be to go for a long if the price goes above the Friday's high (maybe if it goes more than 10 pips above) and hope for the best.
If the price afterwards goes back into the channel and closes there, the reason for this trade would be invalidated - would be good to close it and take a loss in a dignified manner.
On the other hand it wouldn't be unrealistic for the price to at least reach that Fibonacci levels marked on the chart. Then you have some other levels if it goes crazy.
Why don't you take a long and confuse them all?
Of course, I'm not saying to just jump in. You may be better off to wait for few conditions before doing that - see the attached chart. Also the chart is daily and is here only for guidance.
The idea would be to go for a long if the price goes above the Friday's high (maybe if it goes more than 10 pips above) and hope for the best.
If the price afterwards goes back into the channel and closes there, the reason for this trade would be invalidated - would be good to close it and take a loss in a dignified manner.
On the other hand it wouldn't be unrealistic for the price to at least reach that Fibonacci levels marked on the chart. Then you have some other levels if it goes crazy.
