Time is 6:30 am Chicago time, do you know where your Pound Yen play is?
wuzzup Guppy?
I posted the COT info here CFTC COT for GBP and JPY and I was mildly bullish. Never the less, a hard bearish move was made Sunday through the first two hours of London Opening which is 2am here. However, for whatever reason, as soon as Asia closes, which is 2 hours into London at 10am here, price always makes a surge. I felt the COT was bullish so pulled the trigger.
YES that is a 52 Moving Average Bollinger Band. Yes it's weird, normally BBs are 20 or 18 MAs. But I been noticing a sweep from one side to the other lately. How long will it last? I dunno. Price keeps testing weekly lows that offer a significant bounce. Can price reach the top of the BB again, or at least the 52 MA on the 1 hour? We'll see.
What else goes into this? Nothing new from BOE. The more restrictions put on a country's populace, Ive noticed some strength in that currency. Perhaps spending is focussed on staples. Everyone is "printing" as they say. Even though QE is not really printing and officially it's time to Taper. So Dollar should be strong. CHF and GBP sometimes keep up with Dollar while Canadian Loonie, Aussie, Yen and Kiwi can take a hit.
THIS IS ALL OPINION YALL.
Do you FOREX? Hello? How ya doing and whatcha trading?