First posted on 8/18/08 and we will be building on this, this page will be updated at the end of the US session and before the start of the US session
Looks like we are heading down, lower lows are in play. However, I am not placing any trade, I rather place a buy if we don't break 1.8511, which I expect to hold. If 1.8511 is not broken, it signals a countertrend move, where I would target the weekly pivot at 1.8796 as the first TP.
Attached Thumbnailshttp://www.forexfactory.com/attachme...1&d=1219036163
Looks like we are heading down, lower lows are in play. However, I am not placing any trade, I rather place a buy if we don't break 1.8511, which I expect to hold. If 1.8511 is not broken, it signals a countertrend move, where I would target the weekly pivot at 1.8796 as the first TP.
Attached Thumbnailshttp://www.forexfactory.com/attachme...1&d=1219036163