it was just stop loss hunting/short covering on friday evening based on news out of Greece regarding an out come...but no outcome !! !! All the shorts that covered must be rethinking there strategy on the short side
well...we had a nice triangle yesterday that broke to the upside after us gdp data.we had to go to 120 min data to make some sense of friday"s price action..these triangles have a habit of being misread by the market,they are impulsive moves,and quite often they recoil and blow out youre brains...so we have to see where is major support,if any in that tringle if we recoil on monday
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it was just stop loss hunting/short covering on friday evening based on news out of Greece regarding an out come...but no outcome !! !! All the shorts that covered must be rethinking there strategy on the short side
No deal out of Greece yet and its almost Monday ..................down we go !!
1.3260 area might cap it
if it breaks down before ,then look at 1.3150 area as support/major for the rising trend
if we go up then pick off the supports on the rising trendline on the 2 hour
there is a fake on the 4 hour..no retrace on that one as yet
well...we had a nice triangle yesterday that broke to the upside after us gdp data.we had to go to 120 min data to make some sense of friday"s price action..these triangles have a habit of being misread by the market,they are impulsive moves,and quite often they recoil and blow out youre brains...so we have to see where is major support,if any in that tringle if we recoil on monday