I have been informed that the movement in BUND was nothing to do with the ECB meeting. It was just a simple contract switch. I don’t know all of the inner workings of the market. I am just a self-taught home based trader. I look at fundamentals and technical levels. I am always grateful if someone points out where I have gone wrong so I can educate myself. I just share what I look at. I am not pretending to know everything that there is to know about trading. In any case my method told me that the breakout was not a long entry and it proved to be correct. In most cases my technical analysis will keep me out of trouble even if I don’t really understand what is going on at times. Even after 20 years of trading there is still a lot to learn about.
The ECB has left the markets confused with Draghi giving both dovish and hawkish comments like he usually does. With the interest rate differential as it is, I would not be keen to enter a long here, even though it is a valid trending entry. Price is too far from the weekly kijun. I would like to see a retracement.
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