Magpie Trader
Tuesday, September 13, 2005
Tuesday 13/09/05
The hourly trend is obvious and it's down. Price is still in between the 38% and 50% fib(1.8160), which also happens to be around the R1 pivot. The projected low for the day of 1.8112 looks unnatainable bar real selling due to the major support levels in it's way, so I'm still looking for it to make an attempt at the 50%. The first trade wasn't very clever as it was straight into support and I should have waited (first trade of the week is always a cracker...). The second trade is a bounce off the top 15 min bolly, half way between the pivot and M2 plus the final TD TL down.
After it hits the 50%, there should be some consolidation and potentially a reversal in the US session for a resumption of the major up trend.
1st trade today, short at 1.8195, closed at 1.8205
-10
2nd trade short at 1.8222.
After it hits the 50%, there should be some consolidation and potentially a reversal in the US session for a resumption of the major up trend.
1st trade today, short at 1.8195, closed at 1.8205
-10
2nd trade short at 1.8222.
// posted by Magpie @ 8:31 pm 
