The Silence Makes Me Nervous

What a quite Monday…

After e/u gapped 100 pips south, the markets went FLAT ____________________________________

Personally I don’t think that we will see the gap closed as there is too much resistance in the 2800 area. Further downside pressure is added from price breaking the slowly rising trendline a few times today (it only closed once below it on the 4H) but violated and fought it all day on the 1H.  I have  a 1% risk short in right now and an order @ 2700 for another 2.5% both have 100 pip TS.  I think that if we break the 2730 – 2715 area of resistance, we are going to be on a wild ride down…

If you stop by, let me know what you think.  I usually respond to everyones comments and I love to hear how everyone else is seeing this market.

Thanks for the 100+ visitors today, it was great seeing you.

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3 thoughts on “The Silence Makes Me Nervous

  1. Hi Michael,

    I think the market was probably a little thin today due to the Presidents Day holiday. I’d expect things to pick up tomorrow.

    Regarding the direction of the Euro, I’m still holding a long since the pair hasn’t broken the rising trendline on my charts yet. However, I agree with you – if we break 1.2715, I think we’ll see a decent move down.

    Jon

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