I've got a position on in the Eur/Usd today. So far, it is working out to be a potentially good opening range break out trade. I've put on 2 units of the trade and am trailing one unit with an ATR stop. Here's a screen shot of three charts:
Notice that I'm looking at the S&P (via SPY) and the VIX in addition to the Eur/Usd. It is important to see that SPY is above it's opening range and the internals are bullish (as indicated by the green painted bars on the spy chart). The VIX is pulling in too..so along with spy and internals, it shows that the markets are all working together which gives the trade a higher probability of being successful. At this point there's not much to do but wait for pull backs to add to the position and/or get out once price action starts tripping sell signals.
Hope everyone's having a great day.
TLT
Notice that I'm looking at the S&P (via SPY) and the VIX in addition to the Eur/Usd. It is important to see that SPY is above it's opening range and the internals are bullish (as indicated by the green painted bars on the spy chart). The VIX is pulling in too..so along with spy and internals, it shows that the markets are all working together which gives the trade a higher probability of being successful. At this point there's not much to do but wait for pull backs to add to the position and/or get out once price action starts tripping sell signals.
Hope everyone's having a great day.
TLT
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