cheers for the heads up, never traded it
USD index
- Thread starter Piptaker
- Start date
cheers for the heads up, never traded it
It's one of the cleaner trading currencies (less bullshit) and 6M futures are liquid enough - which is how I prefer to trade it.
Because we are viewing this as a reversal we have to see the selling come in, which means a decent spread down bar closing near or at the lows with not high volume but decent volume, if I'm not seeing that then I don'y mind closing this trade for a small loss. if we get the engulfing selling i'll add, I usually have a few targets as I'll have a few positions open but 7670 first then some lower targets as a reversal hang on because it will go lower
I'll check it out cheers
Do you have exhaustion set ups?
Not really. Give me an example. I just look at price action and trend mostly. When I see a market like aud this morning (US time) that should have a normal pullback and shoots beyond, especially after a long run, it gets my attention.
good, take notice how price approaches levels where a turn could be expected (previous level of selling is one example)