Monday, March 22, 2010

Euro Action 3-22-10

Overnight tops and bottoms were set up with big single 1 min volume spikes, then after the usual theme change after 5:30AM PST, it turned into a volume convergence (again).

Managed to track the tape for a long while today. Longer than I usually last. Found out that if i match spec fibs to big prints and if it matches support/resistance levels, they prove later highly accurate in predicting further levels. These levels also get good prints when they're hit on both sides of the trade.

Very big prints in eur/usd today; 4,6 (that set the bottom after GS stop-gunned it's own customers) then 10 million on the first major retrace of the up move that followed and another 5mil slightly higher (1.3526).

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