Well, what a difference a few days makes! I wrote a post on Thursday about price coming down to the 1530 – 1570 Support level. As you can see from the chart price crashed through that the next day and closed the week off at $1489! I’d love to say I timed my post to perfection but it was complete luck on my part!
Whilst I did think that the downtrend would continue even I was surprised by the strength and ferocity of the selling. And today it got worse! I was looking at support levels in the 1430 region and it sliced through them like knife through a butter! The next levels for me were around 1334 and we started to see lows around 1335. That’s a drop of $226 over two days of trading! Holy cowabunga! That’s a massive move by anyone’s reckoning.
We shall wait and see what the rest of the week brings us. Should be interesting!
April 15, 2013
Binary Option Trades, FXTrader Paul, Trading, Trading Set-ups