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I hate it when my plans don’t work.

I always knew the truth is out there. Just like Mulder from the X Files.

Moments after i released yesterday’s article, the price sliced through the trendline and way below! This was a plot to rob me of my bragging rights!

Luckily, i had my safety belt on. Proper money management.

If you did too, you would have survived to trade another day.

Remember NO one can ever predict 100% what will happen next in Forex.

Let us see.

eurusd

The dollar bashed away all the support lines like a race car dashing to avoid tolls!

sp500

Our emotional friend finally turned depressed. Dropping all sentiments right up to 1060’s doors.

We may bounce a little here so watch out for it.

Oil is resilient at $77 while Gold decides to join S&P 500 for a down ride. It currently hangs around $1038.

***

While the bulls whimpers due to the wounds, the fundamentals supporting the case for a weak US dollar still exist.

The deficit, the foreclosures, the failing banks, etc

This may be a minor correction and some traders have called this a chance to get in cheap for the train ride north.

At the current levels, any brave bulls will need to attempt 1.4840-14860 again.

The victorious bears may try to take this below major line 1.4800.

It is important to note that many of us are on margin accounts and hence such moves are amplified.

In the world of the big boys, this may be a mere knock on the bullish trend.

It is important to understand this and to continue to monitor the clues of the market.

There have been talks that this sell off is simply based on rumors.

This is not a surprise as i really mentioned that this week is laden with US news.

If so, we may resume the bullish trend soon.

Even more so should there be another rate hike soon by a central bank since RBA opened the doors to it.

I will leave Mulder to investigate on the rumors while i trade my chart.

***

Have you ever wondered if there are aliens out there in space?

I always do.

Not that i want them to come to Earth and do an Independence day scene real life, but imagine what will their society be like?

Do they have forex? LOL

Trade SAFE!!! ( I want to really say this again. If you got your hands burned yesterday, then you have not been using proper money management. GO AND READ MY STORY ABOUT TOM and trade only when you are ready. PLEASE money is hard to come by. )

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