Can't catch a break on QM made two bad trades this week. Overall not doing well. Still believe prices can move higher. Last night towards the close into overnight trading I tried to play the break on the 76.4% fib. I entered at 99.7 and was up about 50 cents however as soon as Asia volume picked up they did exactly the opposite of the EUROPEAN/US hour trading. I will try to play the break again today, so many other distracting possibilities.
Everywhere bearish sentiment is rampant from the EUR/USD sovereign debt issues, to weak GBP/USD data, and risk off equity move from London hours. Currently we are getting some stability at support/resistance levels.
Possible trades:
Short EUR/USD if we get strong move below 1.4325
ES June is tempting to buy back up to 1290
QM wait for break at 100.2 (above last nights top)
Analyze Capital LLC
www.AnalyzeCapital.com
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