Market opened this week with a drop to 1.9620, then climbed up and snagged on this same area we are hung up on right now.
1.9330 was visited during 11 - 1 Hour candles during the price movement upwards the beginning of the week.
Since coming back down to this level we have been staying here for 16 - 1 Hour candles now.
Here is a good thought for all of you trivia (forex) fans.
Look on the Daily candle back on 11-24-06 and you will see we closed that Daily candle at 1.9312.
Then on 11-27-06 after the weekend and price moved before all of us could get in to the market (remember when this happened?)
The price opened 1.9462.
That is a 150 pip gap, which we have now filled.
Lets look at the numbers again.
1.9312 - close to our price we are snagging on twice this week.
1.9462 - Just 7 pips higher than our High for the week so far.
I have my thoughts on the gap theory, and every time this happens my strategy has worked. I will not disclose what will happen now we have filled the gap, but just this week at the start of the market, I predicted the price would go from 1.9260 to 1.9380, and it was based with several indicators, and you guessed it, a gap once again.
I had set a Short before Christmas, when I went on vacation for 1.9743 and it hit with one pip to spare.
My target on this was 1.9340 which has been cleared by an easy 80 pips.
You can go back through my post to see this is a fact.
The only problem was, I was on vacation, and I could not monitor the trade, and I pulled it 10 minutes before I left the house. Two weeks later I return and the price had already dropped several hundred pips. I would have cleared 400 pips on this one move add that up.
The projected target was based upon Fibo's, price range projection, pivot points, and of course the gap that was left on this upward move.
1.9330 was visited during 11 - 1 Hour candles during the price movement upwards the beginning of the week.
Since coming back down to this level we have been staying here for 16 - 1 Hour candles now.
Here is a good thought for all of you trivia (forex) fans.
Look on the Daily candle back on 11-24-06 and you will see we closed that Daily candle at 1.9312.
Then on 11-27-06 after the weekend and price moved before all of us could get in to the market (remember when this happened?)
The price opened 1.9462.
That is a 150 pip gap, which we have now filled.
Lets look at the numbers again.
1.9312 - close to our price we are snagging on twice this week.
1.9462 - Just 7 pips higher than our High for the week so far.
I have my thoughts on the gap theory, and every time this happens my strategy has worked. I will not disclose what will happen now we have filled the gap, but just this week at the start of the market, I predicted the price would go from 1.9260 to 1.9380, and it was based with several indicators, and you guessed it, a gap once again.
I had set a Short before Christmas, when I went on vacation for 1.9743 and it hit with one pip to spare.
My target on this was 1.9340 which has been cleared by an easy 80 pips.
You can go back through my post to see this is a fact.
The only problem was, I was on vacation, and I could not monitor the trade, and I pulled it 10 minutes before I left the house. Two weeks later I return and the price had already dropped several hundred pips. I would have cleared 400 pips on this one move add that up.
The projected target was based upon Fibo's, price range projection, pivot points, and of course the gap that was left on this upward move.
