EURUSD min 200 pips trek started, We went LONG before FOMC, HOW?
THERE MUST BE A METHOD BEHIND YOUR MADNESS.
As we wrote yesterday & on Oct 25, that EURUSD consolidation above 1.1075 could provide a BUYING opportunity.
We were desperate to take the position. We entered LONG yesterday, After very deliberate analysis, 29 Oct close cemented the idea of taking the LONG side.
Generally, One might think this idea very risky due to high volatility event FOMC. We also prefer not to take position few hours before such market moving events, BUT!!!!.
If you have the capability to read the Chinese Candle Sticks very watchfully. You may anticipate or foresee, the direction such events are going to set. After calculating technical Indicators, we had bullish bias, Fundamentals were in
favor of EUR gain, although some might be expecting some thing weird from FED officials. Thanks to FED officials forward guidance which helped us a lot to set our bow and take aim.
Chinese Candle Sticks are true representations of market expectations and fundamentals developments. Taking different reports number into account, Like, jobs creations, inflation figures, ISM reports of manufacturing/services.
Every things was hinting a EUR gain against the dollar. Taking trade during high volatility events is like rowing against the currents, BUT this is what you must be master of, in FOREX.
THERE MUST BE A METHOD BEHIND YOUR MADNESS.
As we wrote yesterday & on Oct 25, that EURUSD consolidation above 1.1075 could provide a BUYING opportunity.
We were desperate to take the position. We entered LONG yesterday, After very deliberate analysis, 29 Oct close cemented the idea of taking the LONG side.
Generally, One might think this idea very risky due to high volatility event FOMC. We also prefer not to take position few hours before such market moving events, BUT!!!!.
If you have the capability to read the Chinese Candle Sticks very watchfully. You may anticipate or foresee, the direction such events are going to set. After calculating technical Indicators, we had bullish bias, Fundamentals were in
favor of EUR gain, although some might be expecting some thing weird from FED officials. Thanks to FED officials forward guidance which helped us a lot to set our bow and take aim.
Chinese Candle Sticks are true representations of market expectations and fundamentals developments. Taking different reports number into account, Like, jobs creations, inflation figures, ISM reports of manufacturing/services.
Every things was hinting a EUR gain against the dollar. Taking trade during high volatility events is like rowing against the currents, BUT this is what you must be master of, in FOREX.
THERE MUST BE A METHOD BEHIND YOUR MADNESS.
