DislikedHi sisse, If you have the time before the holidays..you mentioned you would discuss your own flip of 1.058x before the FOMC. I read over the posts in which you described the price action that you look at, but just wondering do you also pay particular attention to days when fundamental data or when CBs are speaking to identify the flip area? If I was here at the time, I would have chosen 1.062x as the flip as that is where the market settled at the close on Nov 17th after a Yellen speech (not sure if it was relevant enough for market participants...Ignored
Disliked{quote} How about this theory (prefaced with the standard noob alert). On the daily chart the Nov 20th candle shows (albeit somewhat weak)buying pressure from about 580 after the larger run down. Assuming that most of those stops were at multi-year lows at 1.04xx those buyers and ones from above, were still in the game after the drop to 505ish on 12/4. So going into the event 580 represents the point at which most of the buyers prepositioning for the coming news would be on the right or wrong side. I had 610, then 624 but after the fact 580 looked...Ignored
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