EURUSD Gone Crazy

Yesterday, EURO went to a highest high of 1.4192 against the US dollar. This is so far the highest since september 28 this year. The EURO has defied all major resistances and has highly overbought to 89 RSI. It has gone blunt and deaf on all the technical indicators as it breaks fibonacci levels without retracement.

My advice is that you should not trade this currency pair on retracement for a sell. If you are an experienced trader, you should only take advantage of retracemement on EURUSD only after some fundamental announcements knowingful well that it will retrace for 35-50 pips after rallying as a result of the turbulence caused by the news.

You could also trade it on retracement using "the trading by zero" principle, a principle that states that every currecny tends to retrace/continue about 45-90 pips upon reaching zero levels. E.g 1.5440, 1.5400, 1.5000 or 2.0000. The greater the number of zeros, the greater strenght of the reversal/continuation of the principle.

Now, I know the question is why the zero principle? Just to understand, the reason why the probability of reversal at zero level is high is since once a zero level is reached, most of the traders from all across the world will jump in and –

1. They will either close their open trades.
2. Or they will open a new trade to take advantage of reversal.
   

So, in a nutshell the more the number of traders that agree to certain level, the stronger the level is. So, if most of the traders agree that “Zero Levels” can be potential reversal points, then that means all these traders will be ready to trade at the zero level!!

In the next post, I will be sharing with you how to position yourself to improve your account trading forex using the zero strategy.

One more advice, dont take the principles I share with you for granted becasue they are free. I have paid heavily for them and am exposing you to the strategies I use for my live account. If you dont have faith in me, then please try them on a DEMO at least.

But If You Want To Really Make Ridiculous Amounts Of Money From The Forex Market On Complete Autopilot, then click here now.

See you at the top,
Hassan Ismail,
MD/CEO Income Legends Concept