GU Comment:
The market has dropped the price on pretty good volume for this time of the day, suggesting perhaps closing of shorts and opening of longs at the lows attained. Keep in mind the USD high impact release coming in about six hours. The market might be looking to run the price up afterwards. If so, then more drives down (London traders, US traders, etc) might occur, or at least the price might not run up yet.
On the other hand, price could fall more following the release. Nobody knows. Anything can happen.
But for now, there is no Sonic R trade setup, either way. It is not the LS yet, either. It might be wisest to keep your powder dry for trading after the release. There is plenty of room for this to go either way, so there is no hurry. And here, at the Sonic R. System forum, we do not attempt picking highs or lows for entry. We patiently wait for a proper Sonic R. setup, knowing there is always room for those to run and make us good pips.
-tah
The market has dropped the price on pretty good volume for this time of the day, suggesting perhaps closing of shorts and opening of longs at the lows attained. Keep in mind the USD high impact release coming in about six hours. The market might be looking to run the price up afterwards. If so, then more drives down (London traders, US traders, etc) might occur, or at least the price might not run up yet.
On the other hand, price could fall more following the release. Nobody knows. Anything can happen.
But for now, there is no Sonic R trade setup, either way. It is not the LS yet, either. It might be wisest to keep your powder dry for trading after the release. There is plenty of room for this to go either way, so there is no hurry. And here, at the Sonic R. System forum, we do not attempt picking highs or lows for entry. We patiently wait for a proper Sonic R. setup, knowing there is always room for those to run and make us good pips.
-tah