Good morning everyone.
The 1.618 extension of the last pull back on the Euro$ is at 1.1800. I think the pair is heading there but have no new signal which gives me an elegant entry. I see similar patterns in cable and in the EuroYen as well. I will wait to 800 GMT and look for a signal.
Presently I observe that cable gapped down at the open and has filled that gap as I write. Those who held my trade from Thursday evening should be very happy.
The G20 meeting came out with a comment on quantitative easing and I am interested to see how this is taken by the market at the London opening. No Action.
Until 800 GMT.
If I get an entry signal from the hourly chart before then, I will shout, although thats not the objective of this blog.
Have a good trading day
David
No comments:
Post a Comment