Hi all,
Have been a bit busy over the past 2 days with some of my friends coming over the weekend. So had an extended time off. The normal updates will be back from tomorrow. I dont think i missed much cos GBPJPY and the other crosses dropped a bit as expected and they are still wandering around (as of this writing) not knowing what to do.
I feel that the crosses will drop some more before they resume their journey upwards. No specific fundamental reason behind it but it is just a feeling for me for the market and also a bit from the charts as well. I expected the crosses (especially GBPJPY) to fall following the British CPI but that has not happened so far.
My previous article on fibos set me thinking on the lines of the fibo and i have started working on a strategy or system, whichever way u want to call it, that bases itself on both the fibos and elliott waves as well. This strategy is still in only the testing phase and i will let u guys in on it if i find that it works.
I am also looking to expand my trading horzions to other volatile pairs but just waiting to get a grip on them as well. Since it is only the euro session as of this writing, nothing much unexpected has happened so far but lets see how the day pans out.
Happy Trading!!
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