Gold breaking down. Shorted some Aussie at .7543 on thr back of it. Still looking for an entry in USDJpy. Might be higher. There's just no jiggle here.
It sure looks like something with an agenda stepped on the NY open. Something big perhaps. Waiting for any retrace.
Got out of everything on the move down before the London open. I looked at the daily chart and it occurred to me that most corrections have two distinct upward moves, with down moves in between. The second down move becomes the resumption of the down trend. So I'm looking for another corrective upmove here. Not trading it so far.
Looking at Aussie, especially the weekly. There's a pennant at the bottom of a huge trading range. Last week was really compressed, so we are definitely in breakout mode. Tried shorting it several times, only once was profitable on the move to .7490. I'm on the lookout for a short move up to take out some stops, but basically I'm bearish just looking for a good place to enter. There's just no push here either way at the current price .7510.