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European opening… always works

Posted on July 17, 2009 at 5:32 in Market comments by David Aranzabal

Again a easy setup at the European opening:

GBP/USD: Double top at Asian resistance. Price breaks ascending trendline just at the Frankfurt opening, all the way down to the main double cero price level.

More information: Check out the charts:

4 Responses to “European opening… always works”

on 17 Jul 2009 at 9:32 am1Swana

Yes, David,

this long second Doji candle was at 8.05 a.m. Madrid time,
but I have missed it. I have thought today is uptrend. It is like moon walking - goes up, but actually down.
But after NewYork open at 16 o´clock the prise gas sparked up to 61,8 fibs below from that second long Doji, at the same time this is monthly pivot 1.6335.
I think it is another step of confirmation that GBP/USD is baerish since 15 July.
on 19 Jul 2009 at 8:18 pm2ted Wood

The Pre-Fall of the ECB

The French Government came out complaining about the ECB comment by Mr Trichet. about the debt that of the ECB member nations. Specifically France has a debt of 86% of there GDP. I got this from Boris of GFTs article 6 days ago..

When I was in Finance class my instructor said that 33% was the limit.

Mr. Trichet. has a problem. France is ECB nation that is one of the best when it , ome to debt.

It is Sunday evening, Pacific time, and the EUR is up. But it is early.

Ted Wood
on 20 Jul 2009 at 3:14 am3David Aranzabal

Hi Ted,

Thanks for your information.
Keep posting!!
on 20 Jul 2009 at 3:51 am4David Aranzabal

Hi Swana,

Yes sometimes it’s better go with the flow. If we see the market is going down, let’s surf… You know at this time of the day you may find the opposite direction you are expecting on the long time frame, just for reversing after some hours…

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