Comment by Gill on June 10, 2012 at 12:55am

yes thanks Trae - thought span was important - i find sometimes it has to break cloud too...? w

Comment by Trae on June 10, 2012 at 4:43am

If this key level is broken I will look to short again confirming correct signal (price action).

Comment by Peter jcp on June 10, 2012 at 11:05am

Hi Trae - on your last chart  - I can understand your reasoning to short again under that level - its makes sense and then you would hope another 100+ pip fall.

However on this monthly chart  - you can see when it got to this price zone before - its stayed around it for over 8 months - and in 10 months it touched the price - every month.

That need not necessary happen again - as price could just go down through the zone easily in 2 months and then you are on a real winner.

I just hope this does not reflect into the Euro and Pound currencies and for the rest of the year we  stay in ranges - (ie Euro 2200 -3000) - still that's enough for the day traders - but it would ruin my position trades ;-) - regards Peter

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