G’day Surfers – still in the range I see!!
Dependant on your risk profile, it was a case of lucky or unlucky yesterday. A beautiful Secret Surfing The Pips Candle Pattern arrived at the exact same time as the double dose of EURO news was released yesterday. Our strategy prevents us trading at News time so we were forced to sit that one out. In truth, the Long order could well have been taken after the news reaction subsided. There was a smallish but nonetheless viable target available. We saw a second signal one candle prior to the USD red news later on but had to cancel as the news approached. This was a good thing as the news reaction was twofold and an entry would have produced a loss. So thanks to the news – no entries (good or bad)!
A very small change today which may prove very significant. DP has re-crossed MP and WP to resume the Bullish formation. With the 79 pip range still intact and now entering day nine, one could be forgiven for thinking ‘IT’S TIME’. Poor old 1.3815 must be absolutely exhausted, having carried the weight of PA and the burden of expectation for the longest time now. Fibo fans will wondering why the 1.3788 ‘five 0′ bounce hasn’t produced yet and frankly, so am I! Super Mario – over to you.
The Day Ahead
Watching, waiting and wondering when this breakout will occur. Coming to a Hotspot near YOU!!!
High Impact News – CET.
|10:00am||EUR||German Ifo Business Climate|
|11:00am||EUR||ECB President Draghi Speaks|
|2:30pm||USD||Core Durable Goods Orders m/m|
Have a great Thursday.