Talk about a thin session in the forex markets.

Posted by Gatersaw | 5/05/2008 12:29:00 AM | 0 comments »

London is out on May Day Holiday and I see JPY will be out as well for Greenery Day.  ForexFactory calendar is a convenient place to digest  what’s going on day to day.  Based on the conflicting 15minute trendline breaks I see it would be safer to return during US session to begin the week.  When I take a 15minute trendline break I confirm with a correlated pair to increase my winning %.  For the most part carries seem to be wandering North as they were in Asian session; however USDCHF is still moving down.  In the images below I like to look to USDJPY USDCHF EURJPY GBPJPY GBPCHF to be in line moving the same direction and EURGBP to be moving opposite carries as a confirmation tool.  For the most part I expect EURUSD and GBPUSD to confirm each other and EURUSD and USDCHF to inversely confirm each other.  I’ll be back in 5 hours to trade the US session.  We have a news event at 10am NY time that should bring liquidity and scalping to the forex market.

 

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