A virtual mirror image of Tuesday, allowed us to take even more profit from the market yesterday. Instead of breaking North to Resistance (as per Tuesday’s trade), Price Action broke Short, taking us with it, hit Monday’s Low (our exit) and rallied. Great to see the secret Surfing The Pips Candle Patterns and our entire M30 strategy working beautifully in the first week of the year (NFP week) a traditionally tough time to trade.
Yesterday’s range was a little better at 82 pips as News began to assert itself. Everything remains Bearish but without great liquidity and therefore conviction. PA has found Support @ 1.3568 and if that level goes – look for EUR/USD at 1.3450 tomorrow. An unlikely change in Interest rates (announced today) could change that of course.
The Day Ahead
Still looking for Shorts but willing to consider Longs in this still consolidating market. Stick with the system – Secret Candle Patterns at Hot Spots – it works!
High Impact News – CET
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Have a great Thursday everyone.