Long EURUSD again @ 1.3619

Long EURUSD again @ 1.3619January 7, 201416.22 gmtGot suckered by the 4pm London fix volatility again!!I looked away from the charts after the 4pm fix when I wrote my last post, and when I come back EU has moved smartly upwards. My system was indicating a bit of uncertainty with a slightly bullish bias, but with the ECB event risk in mind I thought I’ll get out and stay out. But the action now confirms the short-term upward bias. We should at least make it to the 38 Fibo of the recent drop from 1.3894 which comes in at 1.3695. So I am long again, and this time the risk is also clearer with the pair having tested and rejected 1.36.Long $10/pip EURUSD @ 1.3619. SL 1.3570.About these adsShare this:…

via Zen and the Art of FX Trading:

16.22 gmt

Got suckered by the 4pm London fix volatility again!!

I looked away from the charts after the 4pm fix when I wrote my last post, and when I come back EU has moved smartly upwards. My system was indicating a bit of uncertainty with a slightly bullish bias, but with the ECB event risk in mind I thought I’ll get out and stay out. But the action now confirms the short-term upward bias. We should at least make it to the 38 Fibo of the recent drop from 1.3894 which comes in at 1.3695. So I am long again, and this time the risk is also clearer with the pair having tested and rejected 1.36.

Long $10/pip EURUSD @ 1.3619. SL 1.3570.

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Long EURUSD again @ 1.3619

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