...I'd like to get long on this for the trek upwards and .95 looks like a really nice number. Taking a look at the hourly, .955 seems to be holding well and it may not quite get down to the .95 price point. Will keep watching. Again, I'm trying to get my entry as close as possible to what I see as support to avoid another U/J trade with a super early entry...but we'll see.
We're going into the weekend so there will not be any trade entries until Sunday/Monday... but I'll keep an eye on it.
I was watching the GBP/USD last night and almost wanted to go long as we came down to the 1.985 support line but held off as we had GDP news coming afterwards. The pair did rocket upwards a good 100-150 pips but reversed sharply and is now showing some sort of little downtrend channel on the hourly but is still in an uptrend on the daily. This pair seems to be getting increasingly hard to trade with fundies in mind as the UK news is getting worse and the US market is still crap (IMO)...so I'm just not very sure on this one. I think we'll need to break 2.0 again to confirm the uptrend.
The US stock market is sort of at break even today, banks are falling back down. Another 1.5hours till close.
I'm looking forward to the gap plays this Sunday afternoon. I'm not sure if I'll put my money where my mouth is and trade them on my main account as I did last week...but I'll certainly be watching them and if anything decent comes about, I may give it a try.
Oh and I purchased http://www.forexgaps.com/ so I figured I would give that URL it's first bit of publicity. Not sure what I want to do with it but it would be cool to get a decent forum up and running, bringing in different experiences & input.
I'll catch you Sunday. Have a good weekend :)
**I'm also watching the NZD/USD for possible short entries (close to the upper trendline). Same channel that I played last week...
