Divergence at yearly pivot level (S2)
Updated
Price is likely to proceed to monthly pivot. Watch for reaction when it hits S2 but it has to overcome it.
Trade closed: stop reached
I was kicked out from long! I placed too tight stop! All forex and stock market is at crucial yearly level - crude hit yearly pivot! EURCHF moves as crude. Crude dropped below yearly pivot to 50 on August 7 at 17 GMT but managed to get back and started trending above yearly pivot. Todays crude drop caused havoc in the US and in the market. Crude dropped below yearly pivot again! Just slightly but by evening got above it. Very unstable situation on the forex and stock market right now...I wish crude to start trending SOMEWHERE then I can trade. If crude starts a trend below yearly pivot - thats a crash for USD, US financial system, all the US stocks, crash of GBP.
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