EURUSD 6E Euro | Currency Futures


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EURUSD 6E Euro

  #1097 (permalink)

Bala, PA, USA
 
Trading Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Mirus, IB
Favorite Futures: SPY, Oil, Euro
 
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Posts: 1,858 since Jul 2010
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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.

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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.
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