G’Day Surfers – poor start to week.

Yesterday’s Report

I will need to consult our records but I don’t recall ever having to report a third consecutive loss before, but there’s a first time for everything and the market is boss. Our poor start to the week continued yesterday as we again ‘lucked out’, missing TP1 by less than a pip. DCZ 1.2510 held the Bears at bay with PA continuing to fill the Flag which is now a little bigger.

Technical Analysis

 

Yesterday’s 65 pip rally has closed the gap between DP & WP, though the Bearish formation remains intact. My Bearish bias remains with it but I can see some room above the cross.  DP has received a recent test so we are free to trade in either direction given the higher Hi’s & Lo’s enabling counter (the overall Bearish) trend trading. It is NFP week so consolidation is also a huge consideration and we have seen London Session doing just that, so far this week.