The level I’m watching (1.3120) is around today’s ADR High as well.
After this level has been reached, I’m taking a pause to see what’s going to do
This is also the weekly high I’m aiming for.
Glad other people aren’t seeing something obvious beside me.
The dollar index continues to slide down. And the H,H4,and D charts are all in uptrends. My market structure analysis still sucks. So bullish overall sentiment.
A drop down to an obvious OTE and then a run up to the ADR 1.31139 would be nice. 1.31397 looks like the next resistance from the H4 chart.
I’m too sat on my hands after having a limit sell triggered this morning, but after seeing it meander I’ve closed it now and I’ll wait for a clearer set up. Took 1% so not all bad, wrong but profitble …
Hey Michael
Just had a chance to look at video 7
Great explanation of London open and how to trade it
Also complete clarification of how to establish market direction and the options that you have to trade within that analysis
thanks once again for all the time and effort you have put into this and all the other videos
I am still relatively new to your teachings - but I really enjoy your videos (tho maybe not the music - lol)
Looking forward to 2013
Its current working within an OTE range as well. Pull a fib from the low on the 17th October to the newest high on the 16th November (Im looking at this on a 4H chart).
Possible bounces at the 79.70 (right on the sweet spot 70.5% retracement) or 79.50 level (79% retracement).
So I remain bullish, until we get that clear break to the downside… and even then, I will be waiting for a retracement back before I think about getting short.
@jonnycab and ppf: i’m looking for pretty much the same thing. just waiting for a break in ms to the downside and retracement. this will be my one shot one kill move this week. (at least that is what i planned :-P)
Me too, although I am now finally leaving for work and have 2 hour car journey so I may miss the initial move. Looking at 1.3093 level being tagged and then MS hopefully breaking down before selling on any retracement.