euro$ pulled back off its high at 1.2757 to 1.2731.
Now with no markets open 6pm EST candle is bouncing hard back near highs.
What is driving this? $ is losing ground all over the board.
News this morning would have taken out my s/l befor going to my trade direction. Good call to pull out. Is a bottom forming? I didn't expect it so soon but... could be. I am waching the retest of the high.
gbp$ is back above 200 day ema and today moved back above the 100 day ema. resistance is at 21 day ema(1.8729). 55 day ema is at 1.8757
1.8757 should limmit any firther rally in this pair. But being stuck in the middle of all these daily ma's it could do anything.
100 day ema = 1.8709 I wouldn't take any shorts on gbp$ untill it breaks back below this price. But if you do then s/l needs to be above 1.8757.
most people expected euro and gbp fo fall further and instead they rallied.
remember 80% of the public will be wrong 80% of the time.
when does it become clear that there has been a trend change in direction? when its too late to get in on it. And soon as you do it changes again.
try to think in terms of the 20% not the 80%
Dave
Now with no markets open 6pm EST candle is bouncing hard back near highs.
What is driving this? $ is losing ground all over the board.
News this morning would have taken out my s/l befor going to my trade direction. Good call to pull out. Is a bottom forming? I didn't expect it so soon but... could be. I am waching the retest of the high.
gbp$ is back above 200 day ema and today moved back above the 100 day ema. resistance is at 21 day ema(1.8729). 55 day ema is at 1.8757
1.8757 should limmit any firther rally in this pair. But being stuck in the middle of all these daily ma's it could do anything.
100 day ema = 1.8709 I wouldn't take any shorts on gbp$ untill it breaks back below this price. But if you do then s/l needs to be above 1.8757.
most people expected euro and gbp fo fall further and instead they rallied.
remember 80% of the public will be wrong 80% of the time.
when does it become clear that there has been a trend change in direction? when its too late to get in on it. And soon as you do it changes again.
try to think in terms of the 20% not the 80%
Dave