Trading Levels with WRBs
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DislikedGM, I missed the 6am long which I would have closed where you entered.Ignored
DislikedFO should be interesting this morning with this due out....
Nationwide HPI m/m expected 0.4%Ignored
DislikedMaybe, but don't you find that the HPI data are a bit of non-events?
The big one for today is the GDP data at 8am EST, which might also have an impact on the morning session in that people may be cautious taking positions ahead of that.Ignored
DislikedMaybe, but don't you find that the HPI data are a bit of non-events?
The big one for today is the GDP data at 8am EST, which might also have an impact on the morning session in that people may be cautious taking positions ahead of that.Ignored
DislikedI've also started to monitor EJ .....this morning it was a buy off a HL at 6:30 gmt for a clean 40+ pips....Ignored
DislikedLOL....AND data a lot better than expected and cable dropped.....that fooled me....I didnt even get the sell.... http://cdn.forexfactory.com/images/icons/icon11.gifIgnored
DislikedThat spike was on the highest volume today and the following candle was a small green spinning top with slightly lower volume.
As GBPCHF is not showing similar strength, I've taken a small sell off the DP / 6175 confluence.
There is also a 15 min bearish harmonic pattern with a narrow time range and its high at 6193....Ignored
DislikedHere's my take on what the sweetheart dealers have been up to this morning.
Nothing on the order books but BP who have end of month needs to buy today.
The choppiness between 7 and 8 am was dealers trying to fool people into selling or covering longs, and then dealers stock up on longs for their own accounts.
Then they let the BP order go off triggering the spike because of thin markets and then they sell back the longs to BP 40-50 pips higher.
A nice way to end the week for some, and hard to figure out for the rest of us before the fact....Ignored
Disliked6175 is a strong R level now, 138% extension of asian session, 38% retracement of yesterday's range and DP of courseIgnored
DislikedThanks for the explanation....as you say, it was a difficult Frankies Hour and I failed to buy the HL just after LO as it held ~the MS1 level.....
I've just banked a few pips as cable touched its 6150 level - earlier resistance.....now I'll look for a bounce into a LH to sell again....or I might just give up for the morning and come back for NYO!Ignored