How would you trade this EURUSD high impact news?

EURUSD illustration of the choices forex traders got to make prior to a highly anticipated high impact news event.  Which choice will you pick? Do you have a consistent approach? Which choice delivers better performance over time?

 

These describe EURUSD

  1. ECB to announce interest rate decision tonight. It is a high impact event.
  2. Market analysts expect ECB to announce tapering also which will be bullish for EURUSD.
  3. EURUSD is bullish since it is up this week and into third day of gains.
  4. EURUSD was resisted since the last two weeks.
  5. There is a Head and Shoulders Pattern in the week chart.
  6. The week/day is not over yet.
EURUSD price action in 3 charts

EURUSD price action in 3 charts

 

Choices

  1. Go long at market to front run ECB announcement tonight in line with bullishness since the last two days.
  2. Wait for bullish ECB announcement tonight to push EURUSD over resistance and then jump breakout immediately.
  3. Place a limit short at or above resistance zone and wait for ECB announcement tonight to trigger.
  4. Short at market now to front run ECB since EURUSD won’t make it above resistance.
  5. Look-see only.
  6. Follow someone else.
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Soh Tiong Hum is Director of TerraSeeds Market Technician Pte Ltd. TerraSeeds is a trading educator in Singapore since 2005.   Soh's Twitter account @sohtionghum was ranked #23 out of The Top 70 Twitter Accounts To Follow In 2015 by MahiFX.   Disclaimer notice: "I do not have a financial advisor's license. I am not qualified by any regulator to give financial advice. I do not know you the reader. Your investment means and motive may be different from me. My posts here are based on observations and meant for education. I am not responsible for for any consequence from your actions."
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