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Waiting for trending momentum to kick in around London open. If price is able to break the Central Pivot to the drawback I'm betting it just might continue to Support One or a retest of yesterdays reduced at 1.3024.
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Closed trade around break even. Not enough momentum to carry price to my goal.
Markets may be range bound and lacking momentum leading up to Non-Farm Employment Change due out tomorrow.
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Currently waiting for London open to establish a trend and momentum. Waiting patiently for price to tip its hand.
Non-Farm report brought out in 8 hours.
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Catch-as-Catch can market.
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A quick note on market BIAS entering next week.
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I am eye balling a possible short trade on the EUR/USD. The one thing I am a modest Leary about is the 4 hour chart. Looks like there may be some upside potential... As always I let price confirm my trade. I will only take a brief if momentum is compelling enough to carry it to my goal.
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I am looking for a possible contrarian reversal short play. Hard cease at 1.3280.
Could this be consolidation for the next leg up? Not likely so...
I will not rule out anything before London Markets come online. .
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Looking at this 4Hour chart and the candle patterns I cannot help but think we are just about to see a full-out change in the coming session.
The shorts might be taking charge of this market sooner instead of later...
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I did forget to mention that we've a Pennant formation on the one hour chart. Which in this instance is a bullish continuation pattern *most of the time.
Can this mean we may see some upside potential before a retracement? I will not rule that out.
Position apart until London markets come on the internet and also the smart money tips their hand.
Either way this will be a fascinating ride and there are plenty of pips to be had to the patient trader.
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Struggling to grab only a couple of pips, nothing to write home about.
What I am writing home about is the possibility for some serious moves in the forthcoming sessions. With the Rate conclusion due out in the morning and the Greece debacle and the requirements of this EUR/USD a pop may be inevitable.
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