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I love mondays…

Posted on July 6, 2009 at 4:47 in Market comments, Technical Education by David Aranzabal

Today we got a 170 pips move in GBP/USD just at the Frankfurt opening. The price broke the ascending trendline after a ascending macd divergenge. After that, the price never looked back and falled down for 170 pips in streight line. All the supports were broken like gum: Asian support, 2 week 60m. support, round numbers, etc… 1.6100 is holding and I think it will hold till the N.Y session.

4 Responses to “I love mondays…”

on 06 Jul 2009 at 8:56 am1arevilo

Hello,

yes, I love mondays also. I had some doubts at the beginning but alfer MACD divergence it was very clear!!…

Good week start!

regards
Arevilo
on 06 Jul 2009 at 2:15 pm2Swana

Hi, David,

you love Mondays, but we must look on Mondays where this first
rapid slide during the London session holds and retraces.

This Monday it was on M2 Monthly, which is 1,6129.

These Mondays retracements do give the direction for the whole week and longer.
on 07 Jul 2009 at 2:15 am3David Aranzabal

Hi arevilo,

It’s good to see you on the blog.
MACD divergence helps us to know if we can get some reversal. Nothing works 100% of the time in the financial markets, but it’s an indicator to pay attention.
Thanks for your comments!!
on 07 Jul 2009 at 2:18 am4David Aranzabal

Swana,
Thanks for sharing you view again.
Let’s see how the pair behaves for the rest of the week.
Thanks

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