G’day Surfers – more pips counter trend.
After some hard days when the keyword was only patience patience and again patience, the Pips party has started again in the SurfingThePips.com Team. Yesterday super short trade took us, for those with courage and exiting at the first support (and not closing at the standard +25), a huge + 56 pips of profit. It was a classic StP trade: good analysis>hotspot>secretpattern>thankyouverymuch.
Ah, and we traded it live and direct during our Free Live Trading Room, so I am personally 2 times happier. If you want to see the recording check it our here.
Our 3 major pivots are now in perfect bearish mode. Price yesterday broke the 7 times tested rectangle (check image) and it is now testing it from below. The hotspots today are all here. The crucial level is this 1.2967 area. If price re-enter the rectangle we’ll find some long, if not we’re ready to short it.
The Day Ahead
I will find some secret StP patterns close to trendlines # and #2. I will risk more on bearish breakouts and less on the bullish ones. Fine tuning the risk depending on what I wrote above – I will cut all the trades in a half after that. Why? I dont like to trade sitting on a volcano…and the volcano is off course the EU Summit.
High Impact News (C.E.T. Time)
All day EUR EU Economic Summit
1:30pm USD PPI m/m
1:30pm USD Unemployment Claims