All my ideas are just my personal view. Trade Your own view.
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Skype: Technician - The forex channel
Thank you very much for your contribution.
May I ask you something (to you and everyone who wishes to contribute)? Am I the only one who got stopped out at the very top of the wick (1.9433), even though my stop loss was set at 0.9390 just before the news? I'm just trying to figure out what I'm doing wrong and whether there is any way to avoid this. At the moment I'm considering to close all my positions before news event to avoid price spiking up just to then return to the original price.
Do you think this may be because of a poor execution from my broker (FXCM)?
Thanks a lot!
Here is my view on NZD/CAD if you are interested:
Based on Market Profile (volumes) and Price Action are three very strong resist/support zones. All of them were created with heavy volumes of big players - you can see it on the Cummulative Volume on the right side. The closest level: 0.94426 is placed on the biggest volume of the year (Point Of Control). The biggest volumes of the year were placed there and moved the price agressively lower. This is definitely the place I would like to go short!
There are more Market profile swing and intraday analysis at my profile page. You are very welcome there!