DislikedYou put in picture form what I had been describing in my last post. Your chart showed what actually happened while my post explained things more from the fundamental point of view and in this case I had no FUNDAMENTAL NEWS just my PERSONAL observations of repeating patterns and looking for clues based on Price Action and starting at 3:00 AM EST when Europe opens, Money Flow.
Your thoughts and comments would be welcome. The Charts are helpful to see the movements as they happen and afterwards. Have a good trading day. On edit please look how EUR/JPY...Ignored
Whilst I have updated myself by reading your and others posts overnight AND I have formed the opinion that this pull back is extended, I was reacting to the short term PA that happens around Frankies Hour. As its a Friday, I'm only looking at short term trades and IF this morning IS the high, I'll look for a longer term short entry next week....
Now, I have 15 pips locked in and my TP is at the S 1 level, at the top the grey confluence box.
PS....IMO this helped the fall....
From reuters.com
http://www.forexfactory.com/images/misc/news_quote.gif A rally for European stocks and the euro ran out of steam on Friday, with markets focused on debt talks between Greece and its private creditors that may prove the trigger for the next leg of the euro zone's debt crisis. German government bond futures also fell, however, as expectations a deal would be reached grew, albeit cautiously. After a positive week of news around the debt crisis -- several successful debt auctions and signs of further action from policymakers -- the crucial talks in Athens, designed to help avoid a chaotic default, looked to be progressing well. Two days into the ... (full story)
Trading Levels with WRBs