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There is a fib just above but also prior price action in that area...There is another major level we hit at yesterdays high. It is looking like there could be a big pullback change on the euro but it might take a little time to play out. I missed the inital short at 1.4160 so need to see what my options are now. I was looking higher due to the current upside momentum.
Platform: "I trade, therefore, I AM!"; Theme Song: "Atomic Dog!"
Trading: EMD, 6J, ZB
Posts: 795 since Oct 2009
I trade the 6E,
but let me try to understand your resting orders:
a) these were placed at or after the spike occurred, where over 200+ pips were traversed
b) you're going for 11 ticks on (what we call) a top-side blowoff, if it should continue to spike higher
c) one direction markets are extraordinarily hard to trade, although most (neo-phytes) think that trading a +219 DJIA day is easy, with a simple buy and hold strategy
d) you were actually conservative in placing those resting orders; these were server or client side? (actual ECN posted, or resting as hidden on your platform subject to trading through those prices and activating them)