The great and fearless leader of our forum malcomb went on record and called this drop almost perfectly (well done).
I have posted a chart on my views of what we should see in the market withing the next 48 hours. There has been a definite paradigm shift in the markets concerning the Euro and its problems at home. Bloomberg and Reuters are reporting traders and institutions starting to re-balance their positions in the cross which has been reflected by the drop. A lot of talk has been made of the 4150 level and its importance as support.
The drop in the last 24 hours has been significant and I will be looking for a pullback and a short around the 4275 area. I will be watching the 15 min time frame for a nd or most preferably a low volume test to see if supply in this area is gone. First target would be 4150 and if broken 4000.
Don't trade vsa though, volume doesn't exist we are stupid.
I have posted a chart on my views of what we should see in the market withing the next 48 hours. There has been a definite paradigm shift in the markets concerning the Euro and its problems at home. Bloomberg and Reuters are reporting traders and institutions starting to re-balance their positions in the cross which has been reflected by the drop. A lot of talk has been made of the 4150 level and its importance as support.
The drop in the last 24 hours has been significant and I will be looking for a pullback and a short around the 4275 area. I will be watching the 15 min time frame for a nd or most preferably a low volume test to see if supply in this area is gone. First target would be 4150 and if broken 4000.
Don't trade vsa though, volume doesn't exist we are stupid.