If the daily currency price met the objective early in the period, then the day is done as the ability to make money is found in scalps. Trading looks like manic Mondays x 10. The entire currency price was completely restructured and a far different market formed. We may not notice it today as our world is in turmoil, politically, economically, socially, culturally. Turmoil and price is uncertain.
The restructure was designed for Europe trading to see the bulk of movements. Previous, United States saw the vast majority of the big movements. The new design is slightly lopsided. EUR/USD today dead stopped to 1.1868 but overall EUR/USD supposed to hit 1.1882 ish on a break of 1.1853. The big line is 1.1917. Not much upside movements left for United States trading.
EUR/USD needs new inputs to travel higher. If EUR/USD hit 1.1882ish then longs for the day would be finished in favor of a short only strategy. The central banks won’t make trading life easier as they did previous to the restructure.
Today, central banks force traders to work for the profits rather than say here’s your trade fellas. My writings has never been written. It will never be written because roughly 10% of the trading world understands, 90% don’t. Means 10% drive market prices. 10% I believe is kind. Take my words respectful. Most know everything about markets except the inner workings of a price, main ingredient. Not a website in the world is devoted to interest rates and its unfortunate.
Note 1.1868 hit on a news event. The new system supposed to see movements only on news events otherwise the currency price trades in tiny movements and is essentially dead and untouchable for a trade.
Most important to the new structure is mind the gaps and study ranges intently as this is what the original purpose of the new design entails. Ranges and Gaps remains the focus however. The Range trade is a gigantic topic because many avenues exist to factor a range. Study meteorology ranges to learn Tercile, decile, quintile, quartiles and others. Don’t try the high / low story.
Today’s EUR/USD Tercile is located at 1.1501 positive and 1.1222 negative. At 1.1501 is located an average line which informs 1.1500’s will hold for a long time in the future because a 1.1501 Tercile is a low low EUR/USD price.
New structure or old, the system of currency day trading was designed not to win. The most fascinating, challenging, interesting and enlightening view ever seen is through the prism of interest rates.
GBP/USD hit its break point at 1.3243, what remains is 1.3316 and below at 1.3178 as next break point.
USD/JPY hit 110.88 on 110.86 break point. What remains is huge Gap at 111.88. Below remains 110.55 and 110.22.
USD/CAD hit 1.2589 before the break point at 1.2591. What remains is 1.2629. Below break points are located at 1.2555 and 1.2517.