5.21.2012

Trying to predict price action in forex is a futile endeavor.  First, I don't have enough experience to really predict with any accuracy.  Second, even if you choose the most likely scenario to happen because there are so many options your choice may only have a .15 probability of occurring.  So you would only be right 15 times out of 100, not great odds.

Of course, with that being said, here is what I was hoping to see.  I wanted to see Monday be a down day representing a Judas down for the week.  Low made in London open Tuesday and then price would move up through Friday.

As of now we are not seeing that.  I'm ignoring the fiber for now because it is trading right at fair value on the weekly trinity.  If price were to drop to the 2700 figure I would be interested in looking for longs.

Looking to the cable the same corresponding level would be the 5780 institutional level.  Not sure if we will make it to either.

I looked for a long at the 5800 level but so far no USDx divergence. (difficult to see divergence with no real price action)