World Clocks

Friday, October 24, 2008

Euro Fade of Rally Oct 23-24 2008

  1. Left Frame 1HR - First sign of weekness was long shadow of top blue candle.
  2. Middle Frame 4HR - Similar sign was long shadow on bear candle.
  3. Right Frame Daily - Blue candle was just a brief rally. Short bias remained, that trend would continue 2nd or 3rd day.
  4. Entry on Left Frame 1HR was similar to Gimee Bar. The mental stop was above the top blue candle above Bollinger band. 

The US Dollar strength has continued across the board with the Yen being the only exception. Dollar repatriation and Dollars returning  from emerging markets and hedge funds has accelerated the decline of the commodity currencies.  Tonight the Aud/Jpy was down as much as 8%.

Currently holding runner at +277 pips after closing 1 lot +180 pips

Posted by Seaducer67 at 3:18 AM

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