I will not be taking a short position, but where the red line is it's a pivotal S/R level (127% on the monthly) so i do anticipate a bit of action to the downside...
Thanks for your reply Nizar,
i'm not trying to prove anything, and unfortunately i can not reveal all of my strategies (it would be doing the wrong thing by the guy that taught me)
there's enough tidbits, and i'm certainly enjoying it
This forum has a bunch of good people in it, and though a few more would be good for it (in forex threads), hopefully we can avoid the verbal diarrhea occurring in some of the big overseas fx forums....
Well, you could say it looks short, but there's the German IFO coming out at 20:00 it can move the pair quite a bit some times, this could be T/A predicting F/A (that's Fundamental, in case you want to be smart)
Obviously, the big event is the federal interest rate announcement at 6:15 AM
tomorrow, but we've got other important announcements earlier...how is it all
going to affect the price movement?...i've got no idea...
The orange line is on a strong S/R, and the junction of the immediate up TL
with the longer term down TL overhead looks interesting...will it meander it's
way down to support and go long on the announcement, find a bit of resistance on the junction and continue through, then come back and test the back side of the long term TL?...as i've said i've got no idea, but it's a bit of fun guessing...nothing is stopping it from doing the exact opposite of course,
it's just that i favor the long scenario...any other takes? View attachment 17455
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