Fundas: Despite an improved unemployment rate Average earnings fell over the period. With the CPI tmrw I am slightly ahead of the game but anticipate this action is showing how timid traders are at this level for any more short term upside.
Techs: Price firmly rejected an upside breakout on the 4hr chart at 1.4375, showing some lvl of supply in conjunction with the daily. I started in short at 1.4325 with a stop above the high (1.4430) in the event the market tries to spook out shorts. My target area is 1.4200 and will add to winners as the market gives direction.
Establish your system, be patient for your setups and act without hesitation.
Follow along with us in our live chat for live trade calls and analysis
Happy trading
Techs: Price firmly rejected an upside breakout on the 4hr chart at 1.4375, showing some lvl of supply in conjunction with the daily. I started in short at 1.4325 with a stop above the high (1.4430) in the event the market tries to spook out shorts. My target area is 1.4200 and will add to winners as the market gives direction.
Establish your system, be patient for your setups and act without hesitation.
Follow along with us in our live chat for live trade calls and analysis
Happy trading
Trade closed: target reached:
Solid Win on weak CPI