Looking at what was said and from most comments, did most of you get wiped out? It was such collection of one-sided views that I couldn't help but think of some of you here a few times today. I didn't expect anything like that but some of the people here were way too focused on technical charts and patters that couldn't help it. When you have a major central bank in a QE who cares about technical info?
And whoever says don't trade news, is plainly stupid. A major central bank, ie a G3 CB, is THE news, the QE and the market in many instances. In an artificial world where both equities and bonds move in the same direction, where you have massive correlations ignoring a change in markets, means you gonna get caught in whatever it is, a tantrum, a position reallocation or whatever. I just don't get the current spat of massive text book-like volatility either, but for sure relying on technical analysis alone, I don't get that either.
Reading the above messages,trading the news is risky business,its certainly not for beginners,I ignore the first 10 minutes at least until a trend starts,I would have been wiped out otherwise by the spike down.I know professional traders who will not trade the news,they stick to a steady income over time and they are certainly not stupid! as for technical's around major releases is a waste of time,the mood moves the direction until that mood changes.Asia markets push the euro higher on the opening,next year is going to be a roller coaster ride.
On Thursday session the euro recorded significant gains against the dollar as the intraday erased most of November’s losses. The euro retained its growth today against other major currencies after yesterday recorded its biggest one-day rise of nearly seven years amid weaker than expected stimulus from the ECB.
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