Disliked{quote} By intense you mean something that volume analysis showed you? From price action perspective there was no shorting area, actually it was rather more safe to open longs even bellow strong resistance. Btw anyone listened what Draghi said yesterday? CAD and USA employment today, will trade it after spikes, will post trade entries. China increased milatary input by 12% huh. Thats quite serious. On other hand they are swiming towards same scenario of "debt ceiling" like USA. I am kinda getting skeptical that they will really bound yuan to gold...Ignored
Hi Janpec,
yes, at 3850 starts a no-business-zone, literally up to around 4080. Very often we see heavy rejection when price enters such a zone.
But maybe I should have been more cautious, since my own EW analysis called for more run up LOL
By looking at 2 sec. chart and 15 sec. chart yesterday, when the Draghi-spike occurred, we saw most of the volume around 3850 and 3840
So I entered the trade. But when the rejection did not came immediately, I sensed, that something went wrong :-)
Regarding USDYPY: hard to say at the moment. Middle term I favour more down.
Regarding China: isn't it unbelievable, that countries like USA and China are able to ever expand their military machinery by simply printing money or taking more and more debt?