Video Synopsis – When will the EURO come back down?
In the above forex educational video I am discussing a large up move that occurred in the EURUSD back at the end of 2008. Many people were emailing me asking me “when will the euro turn around and come down”, my response was, why does it matter? Just trade with the dominant bullish momentum until price action indicates conditions are changing.
The move discussed in the EURUSD was a result of extreme volatility in the market. There was an inside / pin bar combo setup that occurred in the midst of this up move that traders could have used to get long from. This move did eventually terminate in a large bearish pin bar reversal that sent prices back down to eventually erase most of the up move, I discussed this as being a possibility in this video; before it happened. Obviously, the up move that occurred in the EURUSD at this time was a bit of an anomaly, but we still have to trade what the market gives us and let forex price action trading strategies guide our actions, not emotions.