Direct from the desk of Dane Williams,
This is not your average forex broker blog.
On a day that Oil surged 24%, you'd think that I'd no doubt be writing about the commodity today.
But in these crazy times we trade in, a 24% move in the most important industrial global commodity, doesn't even retest any level of previously broken daily support.
The price of Oil is so manipulated, meaning as day traders, we're much better focusing our attention elsewhere.
Like back on a market where technical levels actually matter, such as EUR/GBP.
EUR/GBP Daily:
After EUR/GBP reactivated daily resistance, you can see price has moved in a straight line straight down to the next level of daily support where we now sit.
Find your levels and then trade your levels.
Don't take unnecessary risks in markets that are primed to lurch 25%+ on a single man's word.
Best of probabilities to you,
Dane.
@forexbrokr | Hive Blog
Market Analyst and Forex Broker.
Twitter: @forexbrokr