A bit of a gamble to be honest, but there's enough evidence from this year to support a gap down this weekend. I labeled all the previous gaps this year and why I think they happened. I've put a very small position on a short gap down since I believe our support from this week's trend down is around 112.450.
If it pays off, I'm closing it as soon as market opens because I believe we are very close to a rebound on a longer term up trend for the US dollar.
On the other hand, if we see a gap up, it would be a strong signal of the down trend finding a a bottom, I'd wait to see if it closes the gap and close position, while at the same time I would look for a long entry.
If it pays off, I'm closing it as soon as market opens because I believe we are very close to a rebound on a longer term up trend for the US dollar.
On the other hand, if we see a gap up, it would be a strong signal of the down trend finding a a bottom, I'd wait to see if it closes the gap and close position, while at the same time I would look for a long entry.
Comment:
keep finding reasons..
Trade active:
Well that was disappointing. First weekend in the year we don't see a gap... signs of lots of indecision? We'll see. trade still open looking for that bottom.
Trade closed manually:
we did not reach that fibonacci level. Entered long on break out.
