The rumor mill really got going during the European Session this Friday November 12th. The EURUSD was at lows 1.3575 just before the London open. However it lifted off these and just didn't look back. Later, about 2.5 hours into the session TradeTheNews audio news feed reported a rumor of a bailout package for Ireland, and the EURUSD promptly continued from 1.3680 to 1.3740, until the Irish Finance Minister came out and said that these rumors were not true and it sold off back to 1.3665. Very tricky environment, however trading the DAX using pivots went much more smoothly. Of course the DAX also responded to these rumors and news but using the pivots to catch quick scalps was still profitable. See attached chart for an example. There are a few other trades not related to pivot trading. These other trades are just little momentum scalps, including one loss - a sell at 6651 and exit at 6659, and 2 wins - and initial sell at the open for 6657 to 6627 and another quick scalp 6666.5 to 6661.5. The pivot trades are buying the bounce off S3 and Selling the bounce off S2.
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