Can we follow up yesterdays great winner

Hi
Yesterday we followed the pattern of recent weeks with a nice profitable trade putting us ahead early in the week. Most of you should have got 2.5 to 3% on the trade. Let’s hope it’s a sign of things to come. I do like the look of today’s charts for something similar to yesterday.

Context
The market is now waiting for news out of Greece on the next payment of its bailout funds, Credit agency Moody’s to see if they will further downgrade Spain’s ratings to junk, which may push Spain to ask for an ECB  bailout. The ECB for the tone of its monthly statement on Thursday, and America for its Non-Farm Payrolls on Friday/ The FED having said QE3 was linked to employment numbers.

Technical Analysis
Our pivots tell us the story again today, the DP has finally pushed above the WP, which is nicely above Monthly pivot. Bullish is our sentiment for today, depite the consistent sell off we can see at the moment.
The 4H chart remains has been bearish, but currently we have higher high, and a higher low so it could be turning.

The Day Ahead –  
Things still look range bound and choppy… It’s a messy looking day, in a messy looking week, reduce your risk and trade with care, or sit out until the picture is clearer. We are waiting for news and Spanish news is coming so we need to be in and out of the market quickly where possible.
Bias- My overall bias is still short, but the market is still pretty mixed at the moment.

 NO TRADE:  I wont trade the area between Daily and Weekly pivot.
BEST Short entry; The weekly pivot is being broken short, and I would like a retest and prce action entry short. However I know that DS1 and yesterdays pivot ae at about the same level only 15 pips below WP. These could be strong support, so I need a sell off to take out this level and come back and test it, or another resistance level to get in..

BEST Long Entry.. Break of daily pivot and im on my way to DR1.

Other entries..

 RED NEWS Today
All Day EUR German Bank Holiday
 1:15pm         USD ADP Non-Farm Employment Change
3:00pm USD ISM Non-Manufacturing PMI

All the best
PBT