What just happened to the euro

Isn't it criminally amazing?
Look at the 2 red candles (hourly) that they produced (or waited for) before letting the news out. They let the price break support and then... up our ass!:eek:
 

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Quote from antelope:

Isn't it criminally amazing?
Look at the 2 red candles (hourly) that they produced (or waited for) before letting the news out. They let the price break support and then... up our ass!:eek:
More...

This is a repeating pattern... most books talk about this types of manipulation. As a trader, what should you do with it though?
 
This is where knowing what your edge and system are all about. If you look at price action after the last two red candles that are circled, you will see that there was no follow through on that momentum going down. That should have raised some questions. Either bring stops in closer, or set to break even if your in profit already. Sometimes there's nothing you can do to stop these, they happen, its all part of trading. that's why we use money management. Now the frustrated individuals who don't have their emotions under control are either now fighting this market, trying to get what they lost back, or hoping this thing turns around. good luck and hopefully there's still an account left
 
Quote from Buy1Sell2:

Breakeven stop is a tool that should almost never be used. It will take you out of most trades and give back your profits.
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It obviously depends on how you use it. Im not saying place your position to breakeven the second you see green. trades obviously need room to breath. It makes no sense to have a trade that is very positive come back to take you out and give you a negative does it?
 
The pirates have managed to restore EUR strenght.



(Just out of interest, I do not trade forex. I am interested in the EUR/USD and EUR/GBP trend as I believe they are good indicators of market movement. I only trade stoks and commodity futures. Of course I am also interested in takinf advantage of currency movements, but not through leveraging)
 

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