tbf, (short term) TA kinda goes out the window when you have major policy announcements e.g. the ECB thing in less than quarter of an hr.
Yep it's like free money.. You know who pumps up the prices directly pre announcement?.. The market to a minor degree but the central banks themselves pump it up. They create the "CB Mystique" and train the masses with Pavlovian price behavior. They instill the image of omnipotence. So it's free money on their backs.
There are more stops above than below. Outside days are possible but rare within the current context.
From the chatroom Buy1Sell2: I don't believe daily trend has changed downward yet. So far, I see pullback only Buy1Sell2: Long 1988.00 Buy1Sell2: Initial stop 1976.00 Buy1Sell2: Holding long overnight. I see some action that implies higher prices Buy1Sell2: current price 1986.50 Buy1Sell2: ok so holding now with 1.5 pt unrealized profit. Keeping stop the same Buy1Sell2: Positioned for an up day overnight/Thurs From the chatroom this morning Buy1Sell2: Out at 2005.00 Buy1Sell2: for 17 pt gain Buy1Sell2: Due to high margin on the trade, I am not holding into the day Buy1Sell2: Once we jumped that that far out of the upper Bollinger Band
Works both ways, if TA positions you to be on the right side of the market in line with expected announcements you'd profit. This re-confirms the notion that money management is king.