Hi all, after a bit of advice. I have several losing sell trades currently in this pair. This is with an EA I use that made some bad decisions prior to the bulls taking strong control. Can anyone comment on how bad they think this will get? I am currently on over 50% drawdown. I dont really want to go further than 70% before I think about closing these trades at a loss.
Its sitting at 122 but what are the chances of it getting much worse than that and also how bad do we think the ECB announcement will affect this pair if they inject another 500 million into the bonds, will it keep pushing higher? thanks, I’m not very experienced in all this!
In my opinion, bullish trend doesn’t seem to be waning any time soon.
Price broke a major trendline. Look at the daily chart below.
Add to that ECB’s decision for the Recovery Plan. It’s quite likely to send the price even higher.
It could be a fakeout, but that’s unlikely in my opinion.
Thanks for your reply. Is there any sort of guide as to what price we think this could hit this week? It would be really useful to know what im up against. So we do think its likely the ECB decision will push even higher then or will it stay at similar levels?
Out of interest the EA are adamant that this will turn and retrace, are they bonkers?
Honeslty I can’t answer these two questions.
Especially since I have never used an EA and I’m no expert in TA myself
thanks for your help