DIRECTION?NO IDEA, BUT from WHERE & WHEN it starts:
-close the position.
- reopen the position:
BUY (far) ABOVE the VALUE
SELL (far) BELOW the injurious VALUE.
The lifetime of the level is up to severall days.
Jamie Saettele, CMT has been an active trader since 2005, is co-founder of SB Trade Desk, and Senior Technical Strategist at Forex Capital Markets in New York and author of Sentiment in the Forex Market. Risk Disclaimer: http://goo.gl/CR5SFz
Michael Boutros is a Trader / Currency Strategist specializing in FX markets with years of experience on FX Trade Desks. Currently, Michael is a Currency Strategist with DailyFX. Risk Disclaimer: http://goo.gl/CR5SFz
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Michael Wright is the Chief Strategist of Wright Time InvestmentsÂ®. Along with overseeing all aspects of the companyâ€™s development, Wright also provides an ongoing forecast of the direction of global currencies using the Wright Three Tier System.
James Stanley is a trader and instructor with DailyFX. With a background in equity, option, fixed income, and foreign exchange markets - James specializes in intermarket analysis. http://www.dailyfx.com/page/risk_warning.html
I am a seasoned foreign exchange professional and the founder of JKonFX.com. I have a passion for trading and idea generation and employ a blended techno-fundamental approach to markets. I began my career in investment banking and worked in currency