DislikedWhy do you think that price will go back to 4822 or near it?? Ok today is friday but I do not see a lot of buyers if you look that price stayed down there 1,455. What does that mean? If you ask me it means: no one willing to buy. And one thing else, drop of aproximately 400 pips never hapen without reason. Yestrday Trichet speach made it, but if you ask me again, that could be rather change in trend than just reaction on speech of Trichet.
Just my thoughts.......Ignored
For me I always go for top down approach from monthly chart To 30 min chart, I'm more focus on value especially monthly chart, for my trading logic is quite simple, I want to buy at a discount price, to me this drop is a whole sale price advertising for buyer, risk and reward ratio is good, if the trend is going to Change I would expect a larger bracket to form, but this is just my frame work of looking at the market, actually i thank unca JC Trichet for this move. Let see next week what is the outcome p.s I might be totally wrong.