I seemed to have a lot better focus this morning, and a very good idea of what the market was likely to do. If you look on the hourly chart you'll see where I've drawn in a long standing support area 1.3229. Based on the hourly it seemed very likely that we would test this support. On the 89 tick chart you can see where I've drawn in what I consider the current range. Once we broke to the downside I was able to catch a few retracements before we tested support, as well as the eventual reversal (it became clear after 5:30 a.m. that reaction to various news items was half-hearted).
Overall a solid gain of +37 pips on 25k.
Tuesday, April 14, 2009
Posted by Lord Tedders at 7:05 AM