The price the price, that’s all you and me care about. Its only aspect that matters. Attack a price directly, directly, directly. Nobody knows how to do this simple concept. All attack sideways, that’s wrong. A price can only achieve certain levels, locations, ranges. Fibonacci is oh so deceptive and wrong because its measured wrong. Fair warning to stay away. Simplest and most accurate math formulas easily surpass crazy latitudes of Fibonacci. What’s Fobonacci, square root 5. Interesting but faulty.
Have I ever mentioned news announcements in many trade posts. Of course not. Why. Its meaningless pablum information. News announcements are priced into the current price. That means all factors are considered inside the price. Yes pay attention to news announcements but you don’t have to be an economist because that’s another discipline that;’s meaningless to your trading success especially if you day trade or multi day trades.
EUR/USD. Bottom. 1.1351, up 21 pips from 1.1330. Target 1.1458, Failure point 1.1422. Failed actual 1.1445. This was early morning today Wednesday May 11th.
Today actual EUR/USD afternoon. Hey did you know markets are split in two, yes morning and afternoon. Two markets meld into 1 by two different prices. Good example is japan, up in the morning, down in the afternoon. US up in the morning, down in the afternoon. This was man made invention and natural order of markets and created from the oldest traded instrument in the world, currency prices. Yes currency price drives world market prices in all Financial instruments..
EUR/USD Bottom 1.1375, Range break above 1.1710, 1.1893, 1.1945. Below range breaks 1.1155, 1.0984, 1.0933.
Target 1.1491, Failure 1.1450. Points on the way up, 1.1441, 1.1450, 1.1456, 1.1471, 1.1481, 1.1491.
Shorts below 1.1428, Target 1.1401, 1.1388, 1.1375 Bottom. 1.1388 mus hold and or cross above to head long.