EURUSD dragging near 17 month lows thoughts from the trenches

Marcus Vaughn 34

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Alright guys, been watching the euro bleed out lately as all this political and fiscal mess in Europe finally starts catching up with the charts. Ngl, price action around these 17-month lows is getting proper ugly, and it reminds me of how things looked right before that massive breakdown a couple of years back. Back then I got caught holding a bag of EUR longs because I kept buying every tiny dip thinking the macro noise was just temporary, forgetting the golden rule that the market can stay irrational way longer than my margin account can stay alive.

If you are trying to scalp or swing this move right now, you really need to respect your stops and keep your position sizing modest. Volatility is bound to spike every time some central banker opens their mouth or another budget crisis hits the headlines. Don't let FOMO make you chase a breakout down here after such a heavy slide, wait for a proper retest or a exhaustion candle before doing anything reckless.

Anyone else playing the euro weakness right now, or are you sitting on the sidelines waiting for a reversal signal?
 

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