The chart above explains.
Looking at price action is not enough for us to fully understand what will happen next. Things would be clearer if we can see how the market accumulate/distribute. This can be seen by following the volume trend - how it moves and also its key levels.
I am sure many of you would be thinking that EURUSD will continue on its climb up. Probably because you may be thinking the FED will pivot soon - rates will go down + QE will go up + a lot of $$$$$ will be printed, thereby causing the $$$$$ to FALL!!! I know we need to THINK AHEAD but it is STUPIDITY to TRADE AHEAD. Trading ahead means you are predicting what you think would happen in the future, which equals gambling. These are the 80%++ who lose money.
Also, it is best to really understand the market and not be carried away by the MSM.
As for me, I would NOT BE BUYING at the moment. Unless of course I can see the market is readily going to buy/accumulate over and above the previous HIGH. Perhaps I would look for a nice price level to SELL instead. And there is also one thing I see that makes me feel uncomfortable BUYING!!!
Good luck fellas.
P/S : Do not just believe what I say. Use your common sense.
Looking at price action is not enough for us to fully understand what will happen next. Things would be clearer if we can see how the market accumulate/distribute. This can be seen by following the volume trend - how it moves and also its key levels.
I am sure many of you would be thinking that EURUSD will continue on its climb up. Probably because you may be thinking the FED will pivot soon - rates will go down + QE will go up + a lot of $$$$$ will be printed, thereby causing the $$$$$ to FALL!!! I know we need to THINK AHEAD but it is STUPIDITY to TRADE AHEAD. Trading ahead means you are predicting what you think would happen in the future, which equals gambling. These are the 80%++ who lose money.
Also, it is best to really understand the market and not be carried away by the MSM.
As for me, I would NOT BE BUYING at the moment. Unless of course I can see the market is readily going to buy/accumulate over and above the previous HIGH. Perhaps I would look for a nice price level to SELL instead. And there is also one thing I see that makes me feel uncomfortable BUYING!!!
Good luck fellas.
P/S : Do not just believe what I say. Use your common sense.
Comment:
Comment:
D @ 1.0993
Comment:
Comment:
Comment:
Gold and stocks are doing very well. Many would be lured to buy. My advice is not to be stupid/gullible. When such a thing happens, it is only because the market maker is up to something. You should know what it is. When everyone is buying in a frenzy, I would say, Let's prepare to sell. It is just common sense when we see the kind of things happening with the economy. I will just hang on to my cash.
Comment: