And yet another reason for whipsaw. I am closely monitoring the price and will monitor the conference too

Spider's Den

It shouldn't but if the price breaks 1.0650 it is a possible stop grab. Now, i am talking about extremes. If it overshoots 1.0650 then i might short 1.0695 and 1.0715 as the move could be just a stop grabbing before next leg down. With FOMC we never ...

Spider's Den

Whipsaw price action, directionless. I am just scalping now.

Spider's Den

Yes agree, and shorting into rallies is the option. 1.0625 1.0650 1.0695 and 1.0715 IF it spikes during FOMC

Spider's Den

Yes mate, i agree with you, its trapped in the range and 1.0613 is at the upper border. So it could b profitable PRE FOMC. If EURUSD stays within the range, not breaking 1.0650 should be good.

Spider's Den

FOMC meeting which will happen later in the day is expected to outline further direction of USD crosses. EURUSD is trapped in a range and PRE Fomc range can be defined as 1.0650-1.0550 zone. The price is expected to be in the zone and further ...

Spider's Den

Sl @ be, thats right matey, i often do that also.

Spider's Den

1st breakout target reached image image

Spider's Den

1st target hit!

Spider's Den

3 buddha rejecting now

Spider's Den

EURJPY has formed an inverted head and shoulders pattern which can become inverted three buddha bottom on next swing down. POC1 comes at 128.10-05 zone ( 38,2. ,DPP, bottom of right shoulder ) and POC2 is at 127.80 zone (L3, 50.0, previous buyers ...

Spider's Den

Im currently monitoring USDJPY, as presumed its gaining strength pre FOMC. 121.70 is interim resistance. It depends much on statement.

Spider's Den

Lets see if ECB president can move the market in these late hours..

Spider's Den

Which 12 day?

Spider's Den

Yes...not a good day for trend based setups. The problem is when V shape reversals happen, the only trend setup is shorting at the previous top of the "V". ( eurusd as close to 1.6035 for example ) and the same goes for all other pairs. First trade ...

Spider's Den

Im up for that. Got a short at 1.0550 which was stopped out for 40 pips, then I got 1.0610 short for some 30 pips. The price is trying to switch momentum on Daily chart ( possible railway/piercing line)

Spider's Den

Yes it can be..if "patience" is still used then it could have again whipsaw effect on USD pairs. Notice how USDJPY has been bought into dips.If that happens and USDJPY doesnt break 122.00 mark up till then, FOMC dip could be used for further buying.

Spider's Den

This is the worst nightmare of trend traders. V shape reversal image

Spider's Den

Yes, completely agree with you on that. The thing is there might be some corrections kicking in also on daily basis and generally FOMC meeting on Wednsday is the DAY for both USD and EUR crosses. We will see what they will come up with , but there ...

Spider's Den