The Euro$ has gone back as I suspected and am glad that we got out yesterday. At present the market is sitting on the daily pivot at 1.4092. My philosophy here is to take trades confirmed by some market action. At present the m15, m30 and hourly trends are up. There is no confirmation of a trade at 800 Gmt in the direction of the four hour trend which is the time frame that I wish to trade here.
If this should change I will post the trade. Many just sell the PP and that is a good plan. The conservative 56 yr old I am likes to see at least the m15 going in the direction of the trade.
Old traders and bold traders, just no old bold traders. I remain flat in forex.
have fun
David
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