It is very simple. For 4 hours we didn't get a new low. Thus I assume that short term bears are reluctant to take new positions. Vice versa - as the rate doesn't fall- they will likely cover soon. You could also draw a triangle - if this will be once broken we may see even 40 bp up.
yea, I try to avoid taking positions going the other way until a get a confirmation of a new trend.. for me it's when price goes the opposite direction and crosses, what I call a phi 1x1. At that point price has committed to a new direction and chances of a good trade are very high. To me EU has just started selling from the 1.39 high
You are right. Usually I don't trade without clearer confirmation. Yesterday I was a bit keen to do something. One shouldn't. Anyway, the deal ended just now for me as I had closed half of the position only yesterday to reduce the risk. The second half I closed just now, so that I got out at zero finally.
phi 1x1 sounds esoteric.
Danke Dir! Aber ohne Stopp geht es auch nicht. Insofern bin ich froh, dass ich ohne Verlust raus bin. Ueblicherweise handele ich die halbe Stunde gar nicht. Ich war einfach nur ein bisschen zappelig den Abend.