EURUSD 6E Euro | Currency Futures - futures trading strategies, market news, trading charts and platforms

Currency Futures

This subforum allows you to find traders that trade Currency Futures. You may post about anything to do with trading currency futures in this section



  #1097 (permalink)

Bala, PA, USA
Trading Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Mirus, IB
Favorite Futures: SPY, Oil, Euro
monpere's Avatar
Posts: 1,858 since Jul 2010
Thanks: 300 given, 3,321 received

trendisyourfriend View Post
In my opinion this type of analysis is not solid enough to make a decision, instead wait for other traders' errors. Particularly from those traders who try to catch every top but late. It usually produces a good oportunity for the informed trader. Here we had such a case where amateurs feeling the urgency of the moment and not wanting to miss a move have been selling into support. That's the type of mistake you want to exploit.

Please register on to view futures trading content such as post attachment(s), image(s), and screenshot(s).

I would say stay out of this area totally. Tiny little overlapping bars, congestion. It's just the luck of the draw at best in here. If you are a breakout trader, wait til it breaks. I also think the amateur heard would be buying here, as the market has been going up since the UK open, and just had a big surge up. I think amateurs would be thinking they are missing the big up move. Of course, this is all pure speculation on my part, as I am not part of the collective consciousness of every market participant

Last edited by monpere; February 24th, 2012 at 02:48 PM.
Reply With Quote
The following 2 users say Thank You to monpere for this post: