the spanish prime minister denies any need for eu help.
the german chanceller pushes spain to accept protection from the eu rescue funds.
spain rejecting a bailout at this time because it would send a negative signal to the markets pushing yields even higher (today 6.7 percent). portugal and ireland had to move under eu protection when yields reached 6.7 percent.
the spanish pm wants the eu to inject money into the spanish banks directly. this is not possible legally. any legal change will require long political processes.
in the last weeks many thirld world central banks sold off their euro reserves in order to protect their own currencies.
as expected the eur moved to the pivot point just below 1.24 then turned again. my signals point up but i do not trust it because of the news.
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).
Obviously there is a nice divergence in delta here. Would like to see the double top hold, which would also coincide with a naked VAH from 5/30.
Next area of resistance is a naked VAL from 5/29 at 2492. I feel pretty confident one or more of these areas will hold as resistance.
So for now I am maintaining my short. I modified the target to 2325 which still gives me a very nice R/R.
Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.
Need help? 1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first. 2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses. 3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make. 4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance. 5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers. 6) Help using the forum? Watch this video to learn general tips on using the site.
If you want to support our community, become an Elite Member.
The following 2 users say Thank You to Big Mike for this post: