We had a strong downward rally, retracement but failure to break 1.25 - resulting in a long consolidation {within the gold box]
- we have now broken out of the consolidation box to the downside as 1.23 failed to be broken.
NFP produced horrible job creation but grew in artificial strength because of this.
Next- we have added shorts and will add positions where pullbacks apply.
We expect this to be a swing trade and at 4 hour zones draw down 25% of current pips.
Trend = Bearish
- we have now broken out of the consolidation box to the downside as 1.23 failed to be broken.
NFP produced horrible job creation but grew in artificial strength because of this.
Next- we have added shorts and will add positions where pullbacks apply.
We expect this to be a swing trade and at 4 hour zones draw down 25% of current pips.
Trend = Bearish