Half off for cable here at 1.5810 - leaving the rest as a swing trade short (bit weary of FOMC later) - got one of those suckers eventually
Divergence on the 4hr chart with the upmove so weāll see.
Cable seems to like this area though so it could be back into ranging mode like last year.
EU still having trouble with that 1.3420 area, my 2p is for a retest of the 3383 area at least.
[B]Edit: Sorry for chucking cable into the mix here, just feel that they are related a bit like TalonD :O)
Iāll stick to Euroā¦ [/B]
Very good possible! Here is my weekly. We are at the weekly tl and that is a key level. See you later alligator shows range bound market. Rsi climbing and coming up out of bearish terrain. Then this hammer which is confirmed now.
Question if it will close anywhere above this tl is key. Well, I wouldnāt bet on it, lol.
Held below the 61.8 fib level as well after taking some stops so still bearish for the moment.
The whole last 2 weeks looks like a big shakeout of longs and shorts.
The EUR/USD is in consolidation mode where every upside will be dealt with short oppurtunity,
Its now big players game and I will wait till JAN 7 2011 to build any fresh position as many professional traders also will be on vacation leaves leaving lager spread low volume trading,
No trade this monthā¦
Please reply if you have experience on trading on last two weeks of DECā¦
I went short at 1.3364 last night, nice bounce off a trendline on the Daily, have locked in 100 pips of profit this afternoon, so it is still giving something. Might run further but not convinced, hence have trailed Stop. The 100 pips is over 1% on my account so good enough for this bounce.
In terms of December trading, I am trading this week up until cop Thursday, but will not trade Friday and will start up again in the New Year - I expect that volume will drop away from Friday this week onwards. So a nice enforced break beckons!
