EURUSD: Interesting moves scattered around
Updated
EURUSD has presented different opportunities and conflicting signals. 'Everybody' wants to know which way it is going. This is the wrong question.
In this screencast I show different opportunities relative to trends on different time frames. Where price is going, depends heavily on which time frame trend you're stalking - and whether you'r willing to take a controlled loss on that time frame (alias stop-loss). As I do not work with a 'predictions' model, I simply cannot predict where price is going or any targets.
My personal bias was for price on 1D time frame to move south. But now the evidence on the charts confront me. It is also probable that a lower time frame trend could eventually move the bigger time frames north. This is how big trend get reversed - it just makes sense.
The way I see it is that all traders exploit trends - by some methodology. The trick - which is not easy - is controlling loss, extracting the money and running like hell! :)
To be clear this post is not a recommendation to take any particular position.
In this screencast I show different opportunities relative to trends on different time frames. Where price is going, depends heavily on which time frame trend you're stalking - and whether you'r willing to take a controlled loss on that time frame (alias stop-loss). As I do not work with a 'predictions' model, I simply cannot predict where price is going or any targets.
My personal bias was for price on 1D time frame to move south. But now the evidence on the charts confront me. It is also probable that a lower time frame trend could eventually move the bigger time frames north. This is how big trend get reversed - it just makes sense.
The way I see it is that all traders exploit trends - by some methodology. The trick - which is not easy - is controlling loss, extracting the money and running like hell! :)
To be clear this post is not a recommendation to take any particular position.
Note
Those who have been short, need to thank Draghi!
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