A nice rejection when viewed on the hourly and H4 charts.
I’ve taken a short based on the candle action after NFP’s. Too early to tell if this is the start of a decent correction, but I like the way it turned from near resistance after the data and put in a pin candle.
EURUSD-H1
Collects more scalps than Crazy Horse and newly crowned Bitcoin & Dow top calling master.
Philosophy: "Trading rules.....it most certainly does"
Read how Horatio got into trading here
Philosophy: "Trading rules.....it most certainly does"
Read how Horatio got into trading here
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Have to agree it does look like a a move lower and possibly even more….do you trade just technical ?
Greetings John.
As you can see the techs play a big part in my trading ,but they are always more effective if I can combine them with a fundamental view or data release (for a quick scalp). I like simplicity and an uncluttered chart where possible as you can really get a feel of the price action….I take many trades during the day as they all add up, and we don’t always have to be looking for the ‘blockbuster’ and big home runs .
Interesting I trade in a similar way as fundamentals hurt my brain but I do acknowledge the fact that fundamentals move the price so like you if technically the price looks to be swinging lower and then data or news breaks add to the case for a short trade that is when I am interested. Normally NFP day creates a bit too much volatility for me so I tend to sit on the sidelines. I shall keep on reading with interest.