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So we got the market dipping down a little bit and now moving up.
Mac XSo, what does this mean? What it means is we’ve got to watch these lows back here for our short position<a href=”{http://www.theinsidercode.com|http://www.theinsidercode.com/forex-trading|http://www.theinsidercode.com/forex-trading/page/24/?s=dailly+forex+trading”>best forex course</a> . That means we don’t look for a short until price gets below, if it can, the low here, which is right about 6313.
What I’m hoping is we can get some form of pennant or flag pattern forming over here.
Mac XWe’ll have a long trade above 6843, but you’ve got to remember, we’ve got this old resistance area here, old resistance area here just above the breakout level<a href=”{http://www.theinsidercode.com|http://www.theinsidercode.com/forex-trading|http://www.theinsidercode.com/forex-trading/page/24/?s=dailly+forex+trading”>best forex course</a> . So more than likely, if something does get going, it’s going to be a big short lived and not quite as dramatic as these down moves.