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  1. #1
    Junior Member Wilsonia's Avatar

    I cant understand !!!

    I do not know if anybody noticed that since morning, the markets were either rising when expected to fall or falling when expected to rise.

    EUR/USD Intraday: the downside prevails.

    Pivot: 1.083

    Most Likely Scenario: Short positions below 1.083 with targets @ 1.0705 & 1.0625 in extension.

    Alternative scenario: Above 1.083 look for further upside with 1.088 & 1.091 as targets.

    Comment: As long as 1.083 is resistance, likely decline to 1.0705.

    in this pair, the opposite was happening, I am not sure if things will take a turn now but I have been staying away from trading since morning

  2. #2
    Master Member SeasaltMcFish's Avatar
    Welcome to the trading world

    Nah, these things happen. Don't get upset when the market doesn't listen to you.

    trading is a long term thing and the fact that you get nervous of one day market against you, is a sign that you need more practice.
    Maybe try some more demo trading to get to know the chart twisters a little better...

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  4. #3
    Junior Member Wilsonia's Avatar
    I am still a learner actually, and have seen this happening for sometime. and I still can't get around it when this happens, I need a strategy around this.

  5. #4
    Legendry Member Michael Hodges's Avatar
    that mostly just means that no real driving factor is present. There is a long term trend, the dollar is rising and pushing the eur/usd lower and usd/jpy higher but today specifically there were no new development. The market was ranging and affected by only a small number of traders, basically just floating along in space, not so much because of buyers or sellers, but more because of a lack of buyers or sellers... kind of an anti-trend, or retracement, or reversion... whatever you want to call it. This is the kind of thing you want to watch for after big moves, or big news, or big moves on big news.... the underlying trend is still there, the anti-move can be a signal for entry.

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  7. #5
    Legendry Member Michael Hodges's Avatar
    PS... what time frame are you using?

  8. #6
    Junior Member Wilsonia's Avatar
    Quote Originally Posted by Michael Hodges View Post
    PS... what time frame are you using?
    I use 15, 30 and 60 minutes

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