I thought i'd write my analysis of what happened today and what im expecting to happen tomorrow and then after looking at the chart im abit confused 
butanyways here it goes.
Todays price action was totaly unexpected but hey this is forex for ya. I personally think that this was bullshit rally and was the last attempt to get the price higher before the big fall, most likely tomorrow as Wednesdays are usually very volatile.
That being said however i would still wait for a confirmation which for me would be break of todays low. Im still bearish due to strong downward trendline and also because the day closed below the broken trendline ( see below). I dont like trading asian session due to lower volumes and the fact that i can never get it right and oh yeah also, but this is secondary reason, i need sleep
. I would however go out and predict that price is going to stay rangebound ( probably tight range as well) untill London session. If we are ranging then I would try to catch morning breakout of that range.
Things to keep in mind is that this is very very eventfull week with all sorts of data coming out and any rumours can distort everything ( are there alot rumours in forex?? hmm) and tomorrow is wednesday which is very volatile especially if the day(s) before was relatively low volatility ( today was relatively low). Anyways here's my 1.4 cents
P.S hope it doesnt tank during asian session and waits for me)
butanyways here it goes.Todays price action was totaly unexpected but hey this is forex for ya. I personally think that this was bullshit rally and was the last attempt to get the price higher before the big fall, most likely tomorrow as Wednesdays are usually very volatile.
That being said however i would still wait for a confirmation which for me would be break of todays low. Im still bearish due to strong downward trendline and also because the day closed below the broken trendline ( see below). I dont like trading asian session due to lower volumes and the fact that i can never get it right and oh yeah also, but this is secondary reason, i need sleep
. I would however go out and predict that price is going to stay rangebound ( probably tight range as well) untill London session. If we are ranging then I would try to catch morning breakout of that range.Things to keep in mind is that this is very very eventfull week with all sorts of data coming out and any rumours can distort everything ( are there alot rumours in forex?? hmm) and tomorrow is wednesday which is very volatile especially if the day(s) before was relatively low volatility ( today was relatively low). Anyways here's my 1.4 cents
P.S hope it doesnt tank during asian session and waits for me
)
yur right as always....
Im not expecting major moves in this asian session either prob gonna watch a little while longer then close my shorts and sleep
