Monday, March 26, 2007

FOREX Alert

Housing sales were released and look what happened -



DATA SNAP: US Feb Home Sales Drop To Lowest Since 2000

This won't last long it will probably rebound in no time at all. The best part of the story is the fact that this could indeed be the low point in the housing market - this will cause a lot of inflated prices to come down and that might be the turn around key.

3 comments:

Anonymous said...

Even though this has nothing to do with either Forex or Housing, I just wanted share with you (because you deserve all of the credit for your teachings) my first successful BOB trade today on MRX. I found MRX using your BOB filter and entered this morning (using a 15 min. chart) on a combined BOB and Crossover (felt lots of confidence there). I exited at R1. Good stuff.

Thanks again for sharing your knowledge.

Philip

PS: I noticed after entering the trade that a Tweezer Bottom had formed on the daily chart----not optimum for the third-day BOB setup.

forex killer said...

this could indeed be the low point in the housing Forex market

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