So far it is the pull back I expected (please see prev. related idea)
What to do here? Buy it or sell it?
When you don't have a clear signal (and I do not have it yet), then don't do anything. You can guess, you can bet, but that is rather gambling than a reasonable trade decision based on a higher probability. Someone asked me what would I do if I had to chose! Very often people forget, that as traders we have one big luxury: that is to decide to do nothing! Stay on the sideline and wait. We won't miss anything.
If someone puts a gun to my head and says I must decide, then I would buy it for one more bounce as soon as I see the next Heiken Ashi candle suggesting a bullish reversal and Slow Stoch to turn up again on the 4 Hrs timeframe. But what is the upside? The daily setup is getting a lot mixed again. Where will be the reward in a long trade? 50-70-90 points? Well, that can be a game to play, just do not expect much from it.
I rather wait and watch how high the price can go from here (if it goes up at all). Will it fill the Monday gap? Will it print a lower high? I think the next bearish setup will be a lot more ineteresting.
Anyway, I rather close my DXY (USD Indx) counter trade longs here as prime price objective was met today. To go bullish for USD I rather prefer AUDUSD or GBPUSD shorts now.
With EURUSD I wait a bit more. We all know it's never too late! Keep your eyes open and good luck!
What to do here? Buy it or sell it?
When you don't have a clear signal (and I do not have it yet), then don't do anything. You can guess, you can bet, but that is rather gambling than a reasonable trade decision based on a higher probability. Someone asked me what would I do if I had to chose! Very often people forget, that as traders we have one big luxury: that is to decide to do nothing! Stay on the sideline and wait. We won't miss anything.
If someone puts a gun to my head and says I must decide, then I would buy it for one more bounce as soon as I see the next Heiken Ashi candle suggesting a bullish reversal and Slow Stoch to turn up again on the 4 Hrs timeframe. But what is the upside? The daily setup is getting a lot mixed again. Where will be the reward in a long trade? 50-70-90 points? Well, that can be a game to play, just do not expect much from it.
I rather wait and watch how high the price can go from here (if it goes up at all). Will it fill the Monday gap? Will it print a lower high? I think the next bearish setup will be a lot more ineteresting.
Anyway, I rather close my DXY (USD Indx) counter trade longs here as prime price objective was met today. To go bullish for USD I rather prefer AUDUSD or GBPUSD shorts now.
With EURUSD I wait a bit more. We all know it's never too late! Keep your eyes open and good luck!
