5 times 20 pips = 100 pips
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DislikedLet me add a little fundamental thought here.
It seems to me that when stocks are tanking, as they are all over the world, the money comes out of the stock market and goes into Treasury. (flight to safety, econ 101)
When money goes into Treasury the currency of that country gets stronger.
Therefore, when the European and British markets open the GBP & Euro goes up.
When the U.S. market opens and stocks drop the $ gets stronger.
That seems to be the pattern for the past several days.
So.......long at 8:30 GMT and short at 1:30 GMT.
Hope it's that simple!
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8:30 GMT and short at 1:30 GMT.
It is LONG 4:30AM EST and Short 9:30Am EST...
Ignored
Dislikedsource http://forekc.blogspot.com/
the possibility of pair return at 1.7380/1.7400, where it is recommended to evaluate the activity development of both parties according to the charts of shorter time interval.
For sells on condition of formation of topping signals the targets will be 1.7300/20, 1.7240/60, 1.7120/40 and/or further breakout variant up to 1.7040/60, 1.6960/80, 1.6880/1.6900.
An alternative for buyers will be above 1.7510 with targets 1.7560/80, 1.7620/40, 1.7680/1.7700.Ignored
DislikedMNI Cable: Fundamental levels (orders, options, technicals)
$1.7440/50 Medium offers
$1.7380/85 Minor offers offers
$1.7350/60 Medium offers/$1.7352 Int.Day high (Asia)
$1.7300/10 Minor offers
$1.7280 Medium offers/Stops on break
$1.7270 Recovery highs in Europe, off $1.7210/Minor offers
$1.7267 ***Current market rate 0904GMT Thursday
$1.7210 Pullback lows in Europe/Medium bids to $1.7200
$1.7187 Tech/Medium demand to $1.7180
$1.7150/35 Medium demand/Int.Day low $1.7136 (Asia)
$1.7100 Minor demand on approach
$1.7050/40 Medium demandIgnored
DislikedLdn FX: Cable Retains Heavy Tone As Risk Aversion Dominates Oct 16 / 06:30
LONDON, October 16 (MNI) - Cable retained a heavy tone through
European morning trade, with recovery attempts met by decent supply from
the unwinding of sterling-crosses, with risk aversion again to the
fore following a negative close on Wall Street Wednesday.
The pound in general consolidating overnight losses, although it
managed to hold off lows ahead of the New York open.
STERLING SUMMARY: Opened early Europe at $1.7240, stg0.7765
-- Cable closed NY around $1.7270, with early sales of yen crosses,
prompted by risk aversion after the steep decline on Wall Street,
forcing the rate to an early low of $1.7135 before bouncing back to a
high of $1.7352, as yen crosses bounced aggressively after the Tokyo
fix, with talk again of Asian sovereign demand (similar seen
Wednesday). Cable dropped back with euro-dollar to $1.7225 in late
Asian dealing, recovering to $1.7350 ahead of the European open
before sliding to $1.7210 into early European dealing. Attempted
recoveries through the European morning ran into supply from a
semi-official name, with supply also seen from the unwinding of
sterling crosses. Inability to track euro-dollar recovery allowed
euro-sterling to edge back from lows of stg0.7740 to stg0.7822.
-- Cable bids $1.7220/10, $1.7185/80, $1.7150/35. Offers $1.7270/80.
-- Euro-sterling bids stg0.7780, 0.7740/35. Offers stg0.7820/25, 0.7865.Ignored