EUR/HUF Some Wild Swings. Not for the Faint of HeartDid y'all see that yesterday. The EUR/HUF has a massive move lower for over 570 pips and I was able to catch that. I exited out of my position because I have been in the pair for a while now and think it is going to push higher. It is pushing higher now, so for now I am correct. But I think there might be a larger push higher. If this pair can hit 380 or higher, I'll likely get back in and start building up to a standard lot. The reason, the Technicals (monthly head and shoulders with price almost completing the head), Fundamentals (over 25% inflation, 13% interest rates, Hawkish NBH and the possibility of increasing rates), and sentiment (news, articles, thoughts, analysts are pointing to a stronger HUF) are all inline and providing support for each other. This strengthens the probability for price to move lower. This heightens my conviction in building larger positions on this pair as this might be an opportunity that I don't want to miss. Of course I am going to build my position in blocks and not just place one max position. I am thinking though, that the price might push higher because of the coming up ECB Rate Hike. But I am also skeptical that price will hit 380 (so, I might place an entry at 380.50). What would be good is to build a position above the 380, build a max position to have my average position above the 380, see price push to around 375 and place a stop at 380 (one can only dream). So now it's the waiting to see what price wants to do.
