Had to go to sea - working - for a couple of days, so missed the action.
Wow - what a sell of from 23:00 edt, down over 200 pips in 40 mins into a nice hammer on the M2 support....also with high volume. Then an hourŽs bounce back up to the daily pivot at 231.22.
Then in the middle of the Frankfurt Hour and at the London Open two retests of the M2. Now its holding around halfway between then pivot and M2 so I guess that weŽll have to wait for the UK REtail Sales data at 4:30 edt to see where it heads next this morning.
The 78.6% fibbo off the Daily is at 227.50 and the Weekly S3 is at 227.90 so they are the current targets and with the current downwards momentum can easily be hit
Wow - what a sell of from 23:00 edt, down over 200 pips in 40 mins into a nice hammer on the M2 support....also with high volume. Then an hourŽs bounce back up to the daily pivot at 231.22.
Then in the middle of the Frankfurt Hour and at the London Open two retests of the M2. Now its holding around halfway between then pivot and M2 so I guess that weŽll have to wait for the UK REtail Sales data at 4:30 edt to see where it heads next this morning.
The 78.6% fibbo off the Daily is at 227.50 and the Weekly S3 is at 227.90 so they are the current targets and with the current downwards momentum can easily be hit
Attached Image
Trading Levels with WRBs