Fuelled by bond buying and QE3 most pairs have completed 1000 pips move and they are ripe for another set of lines to guide the downward journey.
I am slightly engaged for now but will find time to post my charts showing the new lines in the sand. However, if you want to these draw these lines on your chart, re-read my post on drawing lines in the sand for the guidance.
Enjoy your week!
My view for September 2012
The temporary support for now is 1.2500 and the target is 1.3000, but there is a barrier between 1.2750-1.2800 (check the top of the previous weekly candles to recognise this barrier). For 1st class trading opportunities, wait for a weekly pin around 1.3000 for opportunities to short for at least 500-1000 pips or wait for a re-test of 1.2000 to begin to look for opportunities to go long.
This is how to plan a trade, set your parameters and determine the range ahead of the game.[/quote]
I am slightly engaged for now but will find time to post my charts showing the new lines in the sand. However, if you want to these draw these lines on your chart, re-read my post on drawing lines in the sand for the guidance.
Enjoy your week!
My view for September 2012
The temporary support for now is 1.2500 and the target is 1.3000, but there is a barrier between 1.2750-1.2800 (check the top of the previous weekly candles to recognise this barrier). For 1st class trading opportunities, wait for a weekly pin around 1.3000 for opportunities to short for at least 500-1000 pips or wait for a re-test of 1.2000 to begin to look for opportunities to go long.
This is how to plan a trade, set your parameters and determine the range ahead of the game.[/quote]