EURUSD 6E Euro | Currency Futures


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EURUSD 6E Euro

  #517 (permalink)

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David_R View Post
I agree with you 100%. There is no one magical thing, but do you think that if a moving average, floor pivot, or whatever, appears to act as some significant level that there is usually an area on the chart (left) that is the significant level?

I'm not challenging you and I sure as hell don't know. I'm still trying to figure it all out. I ask myself every day how should I go about doing this thing called trading.

David

They are significant levels for price, but it can't be tied directly to any one single 'thing' like a vwap.

I think everyone should be careful on "bounced off the <xyz>" type remarks. I am guilty of this too, but the fact is -- whether it is a vwap, an r1 pivot, an ema 20, value area high, point of control, or whatever --- there are probably 5 more things, maybe 50 more things, that could account for this "bounce". This of course becomes much (MUCH!) more so when you talk about esoteric indicators.

I think the closer you stick to session indicators the better, simply because they are more widely used.

Mike

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