I'm very long. This momentary retest of the breakout of the descending wedge should be over. I see up from here :)
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I'm seeing this possible scenario play out with UJ
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going back to the previous update, i'm brainstorming ideas that could happen with this pair come monday and tuesday, and I wouldn't be surprised if we get a triangle formed. However, i do NOT know when the bottom of this correction will be until the market shows me.
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Depending on how fast we get to the top depends on if we break through or not
Depending on how fast we get to the top depends on if we break through or not
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oh yeah by the way, UJ should see more pullback
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actually i may be reconsidering that statement
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If we can break that top trendline we should continue up strong. If not, then we'll go much lower.
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I reconsidered that statement and went long 15 minutes after the weekly open. I dont usually do that, but we have some high impact news event tonight for the dollar, and I anticipate that EURUSD and the rest of the majors may be good to trade on a Sunday actually. I dont have a firm "no Sunday trading" rule, because I understand that depending on market conditions, making a trade on a sunday may be a very fruitful idea.