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I believe the market fell too fast - 2257 pips in one week - MY GOODNESS!!! - that’s a feet unlike ANY. I could not find any historical data that showed such steep loss.
Good news - its time for correction- expect teh market to hit 50% retraction level or more before it either pursue bearish [...]
Its the second week that I noticed this opening range breakout in action - but this time in gbp/usd pair - it was amazingly obvious.
As my habit goes - I trade 4hr chart - with an eye on weekly chart. So I combined the two to get a screenshot which is posted below.
Once the market fell [...]
Ok - first my apologies for not being able to blog the last week - been moving and had to restart my services including internet etc.
Jumping right in - Opening range breakout is one of most popular intraday trading ideas in professional trading community - I am going to use this on a weekly chart - [...]
ok - it drifted below 7950 my yesterday’s - if bearish prediction - and seems to have hit a temporary support at 7750 - but with its new-high at 7875 unbroken - the pair could go lower.
Next possible Path - Bullish
Will take out the new-high of 7875
will meet resistance at 7950 - if broken - can [...]
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