Re-Cap?
Sure..stopped out on EUR/GB...almost took out my monthly swing position too......went short .8820 putting stop above monthly Trend line/taking a bit of profit out.
China News coming out in a few hours...
2 choices:
#1. STAY OUT and we will be on better ground next week
#2. Look for spikes in AUD/NZ/EURO...and U.S. weakness
Suddenly the MEDIA is concerned about Japan and their debt...economy...yen strength...trying to talk it down/weaken...
Pairs nearing CHANNEL "Tops"...AUD/CHF, EUR/CHF...possibly short spike after China News
Did I mention..STAY OUT?
THESE ARE NOT TRADE SIGNALS Calculating probable "Turning Points" Not necessarily the Daily swing (although this is common). Generally "levels" are hit during the U.K. Trading sessions * I use a 15 to 18 pip buffer (+ spread) Most "turns" are good for 25+ pips BUT, not uncommon for 50+ pip runs I try to add possible target amounts based on averages. NO GUARANTEES...IT IS FOREX!!
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