EURUSD stopped me out at 1.1516, but price action is suggesting to me that the rate has finished falling, so I’m going to take a crack at another long position.
I was burned by EURUSD twice on Friday, and in analyzing the situation to determine why the kind of decision that had been profitable for me so often in the past was not working out, I was struck by the dramatic slope of price action at the time. I believe it was this factor that tripped me up, so I designed a lower-panel indicator to help warn me in the future whenever the influence of fundamental factors on the market is likely much too strong to permit any kind of “significant” pullback in the general overall intraday trend.
After successfully scalping long positions last night, when I woke up this morning, my recently modified (more conservative) approach to interpreting my charts suggested that the Euro pairs have finally turned the corner. EURUSD appears to have at last found support somewhere around 1.1365, so that with the next pullback, I plan to enter a long position looking for much more profit than a handful of pips.
With this pullback to 1.1385, I'm entering a long position and looking for a bit more than a handful of pips.
EURUSD found support near 1.1365, and pulled back to 1.1385 after climbing up to around 1.1430. So I entered a long position, but decided to pocket a small profit at 1.1401 when the pair seemed to be struggling to do much of anything as the New York session was drawing to a close.
Based on a "study" I initiated to evaluate the effectiveness of using Numerical Price Prediction (NPP) to trade NADEX binary option contracts (research I am abandoning due to the exchange's platform's unresponsiveness) I want to see what happens if I enter a position when the exchange rate crosses my 'trigger line" headed in the same direction as my "core trend line." (So far, the only thing that has happened is that the rate has cross back behind the trigger line.)
I was stopped out of the position, but I reentered a short position at 1.1480, only this time, it was based primarily on my numbers related to statistical probability rather than simple moving averages.
Bahahahahahahahah, D You are an evil man. Broke my ankle last Wed, thanks for the Laugh. The Ever Appreciating The Humor VIPER