EURUSD 6E Euro | Currency Futures


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EURUSD 6E Euro

  #2076 (permalink)

Aurora, Il USA
 
Trading Experience: Advanced
Platform: TradeStation
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kbit's Avatar
 
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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.

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