Well, our current EUR/USD band seems to be between 1.2230 and 1.2200. I'd say, if you must trade this pair now, that you make your entries along these levels, either short and/or long - TP somewhere in the middle to outer edges. fx current = 1.2216
came in from my walk... JUST missed a short - price toddled above 1.2300 (1.2309)... it was JUST falling past 1.2300 again when I sat down! LMAO skz 1.2268
The way things look right now, it seems that the big rallies are/will-be in EUR/GBP, EUR/CHF, and EUR/JPY; especially in the last one.
Read my post again. i didn't say anything about EUR/USD. Is that all you are thinking about? EUR/USD isn't the "hot" pair right now. I am flat. What I am suggesting is: long EUR long USD short GBP short CHF short JPY I only follow those 5 currencies. I leave the choice of pairs to trade in order to do that to you. Anyone sees anything else?
yes, if done right, position-trading can be an effective method. glad it's working out for you - keep up the good work!
Does this kid know his bands! <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=844254>