25 Dec: Today Strategy
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  1. #1
    Join Date
    Dec 2006
    Location
    Cairo, Egypt
    Posts
    327

    Default 25 Dec: Today Strategy

    Hello,

    Resistance is at 21 Dec, 22 Dec highs 1.3211/12, Support formed by 1.3108.

    Long strategy: Above 1.3211/12, with targets 1.3244,1.3252,1.3290 (not expected but on increased volatility might happen)

    Short strategy: A successful break of 1.3108 and 1.3100 congestion, aim for shorts with targets 1.3082 and 1.3052 lower supports are 1.3030 and 1.3000 figure/psychological.

    Studies are bearish on both hourly and daily.

    Good luck, happy holidays.
    Last edited by topchess; 12-24-2006 at 11:50 PM.

  2. #2
    Join Date
    Dec 2006
    Location
    Cairo, Egypt
    Posts
    327
    Too much volatility, my broker not open for trading too. (Oanda)

    1.3108 support was tested twice and hold very well a rally to 1.3164, now prices are setting back in range. I still think its very risky to enter until It breaks 1.3100/1.3215

  3. #3
    why would you want to trade today anyway! Volume is too think.
    For example, New Home Sales is not that strong of an indicator and needs a lot of deviation in order to move the market. Existing home sales and consumer confidence have a 50/50 chance of conflicting. And you don't want to be trying your luck with conflicting reports during such thin volume

  4. #4
    Join Date
    Dec 2006
    Location
    Cairo, Egypt
    Posts
    327
    Volume is thin, and market is wild.
    Well, I hope my broker lower the spread it's 10

  5. #5
    I'm going to take a wild guess...Oanda kept their spreads high?

  6. #6
    Oanda was high yesterday, but today has come down to near normal. You are right about higher risk in thin trading.

  7. #7
    Thats why I'm keeping my ass out of forex until after new years

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