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Had a rough go last week with EURUSD. I thought I saw a clear resistance level holding, so I shorted it, only for it to creep up and hit my stop loss by a few pips. Then it immediately turned around and dropped. Classic case of me trying to force a trade instead of waiting for confirmation.
@dhall441 I hear you man, forcing trades is a killer. It sounds like you caught some inducement before the real move. I saw EURUSD push up towards the R1 pivot around 1.1550 earlier, but it stalled hard. Now it's pulled back below the 200 SMA. With that Euro inflation data potentially re-accelerating, it might keep the pressure on. I'm watching if it can hold that 1.1530 level. If not, we might see a deeper correction, maybe towards the 50 SMA around 1.1480. Patience is key with these ranges, let the market show its hand.
