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Re: Panick: What's happening to the US Dollar???

Andrew. There will always be a 'story' about the 'why' price did what it did. And when price reverses the financial media will have another story for you. Forget the stories. You have to be prepared for anything much like driving a car you feel is safe and you are a defensive driver. You still need auto insurance and you can still get in a major crash. In fact statistically everyone will be in at least one major auto accident in their lifetime no matter how careful they are. Same thing with trading. Ask yourself what your exit strategy was with whatever you were trading. No exit strategy equals no trading account at some point. You can take many small losses and still do fine overall. DX had bounced back strongly from 73 to 76.50 and cleared the 20ema and 50ema and retraced over a Fib 38.2% retracement of the Jan to May selloff and was looking very postive and also trashing most commodities and stocks. Price came back down to these moving averages for a test and failed. It happens. The early May lows of 73 are next support and must hold or price will plunge further affecting the other markets as well. Notice even with the rally the 20ema is still trending below the 50ema like a railway track since January. All the recent rally accomplished was exactly the same as it did in Dec/Jan and cleared the 50ema and then failed to hold those gains. Watch the critical recent low of 73 double bottom support to see if it holds. And double check your stop losses so you are capable of trading in the future. I've traded on both sides lately and made some money on the double bear Euro ETF:EUO but didn't stick around long in that trade. Gotta take profits when they are there as in this volatile environment they don't stay there for long. You can also buy Options for insurance on most any trade as well just like car insurance only much cheaper and will save you when a trade you are in goes the wrong way. Most of us wouldn't drive without insurance so figure out a way to cover yourself with these sharp and dramatic changes in the markets.

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Re: Panick: What's happening to the US Dollar???