Good evening traders, i just want to share a idea i was thinking about. I am shorting the Dollar Index since 4 days and after being in profit till Wednesday the FED rates pushed my profits away and the dollar higher. Here are my thoughts about short term rates and data - news in the short term in general:
I am trading over 3 years now and since 2 years i am looking on higher timeframes like 4h charts and the daily. For me these short term news and datas often expose as a fake out. Lets explain the scenario. Some higher news about the US or EU comes out and the numbers are higher or lower or whatever... 90 percent of the time at the second the news is out price, like in the DXY rises up or down for only seconds, hours but sometime a whole day, only to come back the whole price the day after or 4h candle after the first one is closed. Im just gonna leave this open why and who does that but facts are it happens 90 percent of the time.
Back to the charts.. Im still short on the dollar because this is what i think is happening here another time. Price moved another time high this Wednesday and Thursday but cant break the strong resistance yet. Like i explained before, i think it was just a fake move to trap buyers..
P.S. Im just talking on short term data, not fundamental aspects and president elections or economic data.
Let me know what you think on short term data & news in the comment section.
I am trading over 3 years now and since 2 years i am looking on higher timeframes like 4h charts and the daily. For me these short term news and datas often expose as a fake out. Lets explain the scenario. Some higher news about the US or EU comes out and the numbers are higher or lower or whatever... 90 percent of the time at the second the news is out price, like in the DXY rises up or down for only seconds, hours but sometime a whole day, only to come back the whole price the day after or 4h candle after the first one is closed. Im just gonna leave this open why and who does that but facts are it happens 90 percent of the time.
Back to the charts.. Im still short on the dollar because this is what i think is happening here another time. Price moved another time high this Wednesday and Thursday but cant break the strong resistance yet. Like i explained before, i think it was just a fake move to trap buyers..
P.S. Im just talking on short term data, not fundamental aspects and president elections or economic data.
Let me know what you think on short term data & news in the comment section.