This morning GDP number from England was a downer. Looks like the over correction bottomed at 1.57507. Price action is running paralell to previous uptrend starting Jan. 6, 2011. A fib retracement to 50 would put us at 1.58816. 130.9 pips(not Bad).

 

Opportunistic trade but risk is worth the rewardTrading will slow as Europe slows down but should pick this evening especially with the latest US data.

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Fantastic GBPUSD broke through the 50 fib line A 11:00 GMT

It's is end of january, doesn't this have a seasonal effect as well?

 

Risk gets not always rewarded, clever risk yes :)

The January effect (also known as the turn-of-the-year effect or the January anomaly) is the most important calendar anomaly. The returns on common stocks in January are much higher than in other months, and this phenonenon is due to smaller-capitalization stocks in the early days of the month.

 

"According to an old saying, as January goes, so goes the year."
Fosback (1993), page 151

 

source: behaviouralfinance.net

 

I never studied Behavioral Finance but I am starting today. Thank you. 

My post was about the dramatic price drop on the morning of January 24, 2010. The price action coincided with a negative growth GDP from the UK. I played the fib retracement (technical analysis)

 

I like having a look into behavioural finance and the fundamental data, but at the moment I use Buru which is trading absolutely auto and is based on technical analysis. Funny actually, I'm on three waves at the same time :)

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