Gbpusd 01-09-08

jiggly

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Its the most unbelievable thing I have ever experienced for a while, was trying to trade this crazy horse for the whole day today, expecting the breakdown on a couple of occassions. got burnt twice on the shot side, even though long term trends are down I just left it in disgust.

then low and behold at the most rediculous of times, just gone 23:00 the whole thing breaks down and runs full steam ahead to my predetermined target. i cant believe it, nearly 200 pips within an hour. i was technically right about its direction but I still lost money today.

what kind of time is this anyway? why has this pair become extreamly active outside of US and Eurozone(london times) all of a sudden.

its as if the far east doesn't want us to make any money during the days trading our own currencies.
 
Low volume at this time is a perfect chance for somebody to start a big move. Big option strikes were rumoured to be down near 1.78 with a 12 sep expiry date. Also, u.s. dollar is closely following oil just now and it collapsed in asian trade.

Don't assume that european or u.s. traders 'clock off' when the session ends.
 
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