Quote:
Originally Posted by daydreamer65
What sort of time frame would you put on it trying again?  |
If you're asking how long I think it will be before prices mount another concerted attack that level again?
Well, put yourself in the hotseat of a high roller betting heavy on these babies week in & week out.
Maybe he's had a pop at these instruments today off their respective support lines & he's got bets invested from further back as part of a compound opp to test demand thru these upper tier supply lines, yeah?
So, today he's ridden the uptick into the London close & he's pared out, banking his intraday profits.
He's now thinking that we got the big circus tomorrow (NFP's) & it's likely the high rollers will refrain from laying big bets ahead of that unpredictable number.
GEPPY is resting at it's intermediate s&r clip (which I highlighted on a prev chart this week) after pressing to attack intra-day highs, & EURJPY is pulling back from intraday highs too.
My guess is they'll all settle back to catch their breath a while. We might get a buzz or two into Tokyo or early London traffic, but there won't be any (fresh) heavy bets placed now ahead of the Payroll numbers.
Whenever you're trying to unravel a potential quandary or get your head around a tricky level or zone, try stepping back & thinking more in terms of risk?
Prices have bolted back up the ladder today & are now consolidating the moves? So, we got an important number out tomorrow, yeah?
Would you want to step in & sling a bet down ahead of an unpredictable eco release with prices shuffling & jostling at their daily high's??
Does it represent good r/r to punt under these circumstances??