I'm calling it a night guys. My first week trading the Intraday FX Player (tm) way was nerve-wracking at times as I sought to constantly monitor multiple TFs and relearned the importance of TLs. But I ended up a lot wiser, and in the black to boot. Thanks to those here who have helped me so far. cheers edit: so the big move happens just as I go flat to have dinner! Oh, well, there's always next week.
GN everyone and good luck, that's enough for me, a bit dissapointed i got faked out of the short, was short at around 415 (spot) ,at the worst possible time, ahh well there's always next week.
the low we had at 5320 was what I have been looking for when I was mentioning my expectation of a channel bust. If we hold this low or close near to it I expect several weeks within a 6 point sideways range. Any close much below that will blow that scenario out of the water - let's see. The 4 Hr close in just over 90 mins could bring all the cycles together again for a huge move up. Breaking a lengthy daily channel has negative expectations but IF the sideways daily channel sets up then we could have a big ATM start tonight. If we get a bottom and it starts to roll over it will be a low risk keeper. Play your stop - get some PIB before that and you could see 100- 250 pips. Think we got news later.
just realised i didn't make that clear. If the 4Hr cycle is low in 90 mins the ATM expectation is UP. But... the direction of the news break is caught in the low TF's exactly as CF did the last one.
The 138.2 fib from yesterdays' daily bar gives 1.5309. Exactly where we bounced. So I'm long barring a break of that.
1.5285 is May's low, and 1.5250 is 161.8% .... IF it breaks lower...1.5322 is another major fib point.