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Strategies & Market Trends : Bonds, Currencies, Commodities and Index Futures -- Ignore unavailable to you. Want to Upgrade?

To: wmwmw who wrote (6342)6/1/2005 3:37:01 PM
From: GROUND ZERO™  Respond to of 12411
 
Honestly, I don't know what I would have done, since I don't trade the euro... I do find it noteworthy that it broke down just when it would have turned up, there's something in it to glean for future reference... this is what makes these markets so interesting, the behavior of price over time is a curious creature, for sure... you know, it could also just be an exhaustion gap and the euro might turn up from here... but who knows?

GZ



To: wmwmw who wrote (6342)6/1/2005 3:37:28 PM
From: c_hl  Read Replies (1) | Respond to of 12411
 
The wall was about at 1.24. You can have 20-30 pips tolerance. But a 100 pips break through is decisive and it is very unexpected. The only explaination is that this is a blowout event.

Next time I know how to handle this situation. If the break through is too much, need to follow momentum, not spiral.


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