Wild Whipsaw on Intraday Charts
As we discussed yesterday, it was US election day and we were expecting some different price action on the USD pairs in particular.
As the attached 4 hour chart of the EURUSD shows, this played out pretty quickly before soon calming down again.
A major reason we avoided making new trades yesterday was because we wanted to avoid moves like this where even if you picked the correct market direction you had your stop whipsawed out.
This is likely not the end of the erratic moves, so remember to keep your risk small and potentially use larger stops.
As the attached 4 hour chart of the EURUSD shows, this played out pretty quickly before soon calming down again.
A major reason we avoided making new trades yesterday was because we wanted to avoid moves like this where even if you picked the correct market direction you had your stop whipsawed out.
This is likely not the end of the erratic moves, so remember to keep your risk small and potentially use larger stops.
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