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7 hours ago, Caseynotes said:

US NFP today at 1:30 pm minus 22 million expected. Turn the economy back on you utter morons.

US NFP today at 1:30 pm minus 22 million expected. Turn the economy back on you utter morons.

Edited by Caseynotes
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Hong Kong seemed the main cause yesterday evening with worries China was just going to take over completely and abandon the one country 2 system approach  and the US would be forces to respond in some way, but the worry seemed to dissipate over time.

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A sudden up and down is often the result of news. In a bull market traders will usually check where support is on the London market open before moving on. Standing back and looking at the H4 chart it really just looks like a normal pullback so I wouldn't be as quick to flip or you end up flipping every 5 minutes.

image.thumb.png.91fc17eb47eccb5b1642fb7804354f20.png

 

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5 minutes ago, Caseynotes said:

looking at the H4 chart it really just looks like a normal pullback so I wouldn't be as quick to flip or you end up flipping every 5 minutes.

Yes, and generally 5 - 10 - 15 minutes isn't good for me

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1 minute ago, dmedin said:

Yes, and generally 5 - 10 - 15 minutes isn't good for me

the chart above is H4 and the daily pivot (magenta DP) is a good line in the sand for determining whether it's currently a bull or bear market, keep an eye on your MAs and if they are sloping and 'in order' (8>20>50) i might go with the counter flow but with a view to getting out early but generally I wouldn't chase price up and down but rather wait for price to move from one level to the next in line with the prevailing trend. 

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