The inverse head and shoulders played out to the measured move with weakness creeping in since the Asia session.
Difficult to draw any conclusions before the Jan CPI report. I will be keeping things tight and going for small fish until the US session. 1.2400 and the 38.2% area of the February swing low will be my ‘line in the sand’ for a continuation of strength seen in the pair the last two days.- You don’t need me to tell you this yet I’m going to say it anyway …………….Be extra careful of the pending data release. Markets are on a knife edge and understandably nervous on account of the recent equity correction and yield moves.
Ryan has highlighted some large option expires here. Note that these are for 10:am NY ( 15.00:pm GMT ) post data.
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sounds like experience talking – sound advice once again
I learned by my mistakes early on in my trading career Johnners and not ashamed to admit it 🙂
The most difficult thing is to know when to step on the gas and when to hit the cruise control and watch things play out ,,,,as you are well aware of at your level.
For me we’re in the middle lane before NY