I agree with you, Imo you have to be aware about them as price hit them. For example, yesterday the price hit twice the weekly pivot point at 7824, so i got 2 short position there. The same with daily fibo points, daily MA, daily bolinger bands, etc. I found this points very strong while price hit them FIRST time. The problem is that many days you meet non of them...
Smells like Panic day ! I love panic days ! I hope that finally every player is convinced of a recession in the U.S. !
Usually when " every player is convinced of a recession in the U.S. ", this is the turn around point... we need more time to see if it happens. Strong points for today ~7470 ~7550 ~7630 I'm long 7550...
Nice trade Shaked, your entry was very close to mine 10.52am possible IHS setting up, are we ready for a thrust AS? There is a possibility of a 3rd higher trough on 1 minute chart, also MACD on 2 & 3 min charts looks like a jigsaw, will we get buy the rumour type day? I would rather be a buyer here personally and if my ass is handed to me on a golden platter at least I can justify it <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1750586>
It is an economic number (I believe survey) that is done in Germany. When it is released, the market becomes very volatile. Another important one is IFO. You can download weekly economic calendar from dailyfx.com. I am always flat few min before and after numbers come one. Regards, redduke