A note about yesterday. Here is how I look at it. I could call it "shifted" SDD, because that drop around 12:30 went out of the BB uncharacteristicly, but then it kept sidewaying on a lower level. Then on cue at 2 pm, down we went:
Currencies are just a derivative from what happens in ES. I can tell you all ccy traders watch the ES these days. Myself included.
Still holding the long, would like to see yen reverse the intraday move and the SKF drop below 180 to feel a little better. The FXY was about 20 cents from putting in a Double top on the daily. Would also seem bullish over a longer term time frame if it can reverse the move it made earlier today.
Hey, somebody is doing his homework! Except the midday top is expected between 12-12:30, just like now...
Yeah, good range 0.01138 high and 0.011122 low up 227 ( JYH9 contract) Brit Pound has been smashed down.
That BIG RED candle in the hourly looks formidable - it encompasses almost all ES action since 1pm yesterday It represents lines in the sand - breakout above and below top and bottom would indicate future movement. See attached.
Not to go off topic of ES but it is lunchtime. From the 10am high 820.50 to the 11am low of 800.50 you could have made a maximum of $1000 per contract. During that same time 1 Yen contract (which has a lower margin requirement) went from 11101 to 11496 and would have made you $4937.