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the dollar last night

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  • the dollar last night

    that was a big bad mean move for the dollar last night, also big gains in the last 2 days right after it hit the -61.8 fib line in my chart. I'm hoping for a retracement or at least a move wthin tis channel its in right now, what do you guys think?

    edit: currently it sits tightly on the daily s1, won't break it lol. Hope it doesnt

  • #2
    Re: the dollar last night

    The reason the dollar has been so strong lately is due to the Chinese selling their U.S treasury bonds left and right; with such action relinquishing the no.1 spot to Japan . So, the demands for dollars has increased to be able to pay them. However, that is a good info to know a why? but not fundamental in trading decisions. As a trader NEVER get involved emotionally, simply trade the entry and exit strategy of your system. Do not get involved emotionally in nothing else; if you do (hoping) it will destroy you. So, again my advice to you is do not get involved emotionally. Just Trade the System. A good system is one that force you to follow the trend if there is one and not the price. There lies the secret. I learned that after my account was wiped out.

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    • #3
      Re: the dollar last night

      a good chart to watch is the ICE dollar index - symbol DX. As it goes, the Euro goes opposite.

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      • #4
        Agreed. Never fall in love with a position. I set my targets and wait for the market to come to me. I won't even give in for a penny.

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        • #5
          http://www.zerohedge.com/article/one-european-bank-uses-fed-fx-swap-line-current-week

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