Friday's G/J daily candlestick saw a particularly large fall. I often notice that a strong candlestick occurs in reverse immediately following a strong move in one direction. Could we see a return to 209.50 tomorrow? The down move is starting to look a bit exhausted on the 4 hour chart. We've been ranging since late January, could the previous 7th Feb 205.80 level hold and we move back up? I think a buy position right now with a sell stop at 205.70 could possibly be fruitful without risking too many pips. Mind you, I'm no expert so perhaps safer to stick with the main downward trend!!
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Nihil Sine Deo.
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Indicators show the past. Price Action "Indicates" the future.
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