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



  #2076 (permalink)

Aurora, Il USA
Trading Experience: Advanced
Platform: TradeStation
Favorite Futures: futures
kbit's Avatar
Posts: 5,895 since Nov 2010
Thanks: 3,310 given, 3,354 received

72truckster View Post
I concur, if you are talking about the tail that formed on the bar because of the ECB announcement. It sure is in no hurry to get there though. So why are you long after 3500? It would seem that short term it has a short trend, and the "rhetoric" fromECB is that they are trying to do what ever it takes to lower the value of the euro. But yea, technical chart analysis would tend to suggest to me a hard bounce long after 3500-ish.

I'm just going by past experience...the engulfing bar doesn't seem quite low enough to stick therefore it looks like a trap but often times after it gets taken out it will return to the other end of it.
That's not to say it will get taken out by three ticks or something before it comes back could be a hundred or more for all I know...the key is to spot the reversal and look to take profit at the top of that bar...there is potential for more than that but that's the safe pay.

Reply With Quote
The following user says Thank You to kbit for this post: