EUR-USD on the rise again to possibly 1.2471; the pair is currently at 1.2448 at the time of writing; deja Vu all over again, I hope I spell that deja Vu word correctly! Spell check please! The EUR/USD pair is dancing the same dance it did yesterday morning about this time, 4:35 am Eastern Standard Time.
Earlier in the day, the Market Genie gave into the King Fish Traders and gave them some baiting love, by rewarding them with about 80 pips. The BlockchainStar warned the King Fish traders, telling them that they should not get too greedy and eat the bait, they should instead take full advantage of the Market Genie's gratitude by cashing in and leaving town.
However, a small percent, say 5% of the King Fish traders listened, but the vast majority did not; how did I know this? Very simple, 95% of traders lose money in the financial markets. Therefore, the 95% of traders who lose in the financial markets did not listen to the BlockchainStar's warning and got greedy and held on to their short positions one pip too long, until it was too late; now they are in a very deep hole because the Market Genie Giveth 5 Bitcoins and takes... how many____? You fill in the blank. "Let's see if you are following!"
It must be mentioned that there is a substantial level of resistance at the 1.2450 level and a strong area of support at the 1.2440 level, which can be seen on the 1 hour chart and the 4 hour chart. So, why is it important to always look at all time frames when planning a trade or monitoring a trade? Please answer the question below, got to keep things interesting and fun. The BlockchainStar wants to give value to his readers and this is the way he knows how to give value.
Here come the dreaded BlockchainStar prediction. I think the BlockchainStar is probably 95% correct on these sometimes dubious predictions. Anyway, let's cut to the chase. The BlockchainStar is predicting that the EUR/USD currency pair will get to around 1.2471 and then pullback to the 1.2388 level by late afternoon Eastern Standard Time. By doing so, the Market Genie will reward the King Fish traders who were strong enough to ride out the treacherous storm by continually bloodletting money into their accounts to sustain their short positions--selling more and more and more of the EUR/USD pair, a very dangerous way to do business in the financial markets, indeed.
These predictions are strictly the opinions of the BlockchainStar inner circle. No one should take these predictions as investment advice because they are not. Please do your own market research to come up with your own winning trades.
Please post your opinion below or placed your unbiased vote; The community will reward you for being honest. Thanks!