I moved to 30 second bars - while previously in October I have been using 5 minute bars, this week I tarted with 1 minute bars and now 30 sec. Lesser size and faster/smaller profits/targets keeps me happy. The moves are huge at times, but they are difficult to predict properly. I started getting a short Euro mood yesterday - which has been right, but I don't trade anything else than short scalps and I trail every stop. This way I have very few losers, although I settle for scraps some times. This Friday I will be pretty careful, as there is a conflicting mood in the market.
See, it works doesn't it, but this fast moving market is great for larger targets so you can at least maintain some kind of acceptable risk:reward. Wider stops.....and even wider targets
Eurozone October Conusmer Price Index data in 5 minutes coming ... Euro and USDJPY has been protracted and steady the last 3 hours.
I didn't want to say anything earlier as I hate potentially influencing a trade someone is already in, but was that really a great place to have a stop bearing in mind stop-hunting? There's an interesting article about stop-hunting here. You may never use the strategy but it might be worth bearing in mind when placing stops around big figures.
I (we) had a pivot/SR at 124.00. I suppose there would be an argument for either side. Different time frames support diff. decisions. We may look for a short around 125.00, just don't tell anyone!