Not as much airtime off 105.07 as I thought it might. Good for 30 pips for those who caught it. I was trading other pairs so missed the bounce. The drop to 104 55 has given another good bouncepoint. One of these is going to be the big retracement...
stopped b/e trade, waiting on weekly TL touch now + early indications Weekly TL level as it is now is around 103.5
ImO an opportunity to buy USD is getting even better according to how I view charts in conjunction with TA. The most important part here is that USD is low. Not carrying for fundamental reasoning as such I will simply assume that price is LOW as in buy lo & sell hi. Why do I still view this as even a better Long is because I've seen how this pattern evolves on many occasions plus the predetermined risk will be a lot lower than what a potential reward may be offering here. As I am entering off minute charts (as trigger points) my stops are at the most about 30pips. What is a potential benefit here? Always an arousing question. According to my research I see 50% fib bounce EASY providing this weekly divergence + price levels hold. Price provides interest & patterns provide entry signals. So here we are at 103.80 so close to lower weekly TL which I have at around 103.50, guess how many analysts are looking closely at same line in sand & thinking - hmm, what is GS up to? I know USD's been in decline & at times dropping as a stone & all that media coverage, bloody hell I am sure American people at this stage are ready to swap for EUR LOL (JKing of course) <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1814733>
Anyone following the weirdness that is going on with CME currency futures? It is freaking ridiculous how unstable it is tonight. Bid/ask disappearing and reappearing every few seconds.