Post election woes....

Good morning Monday!!!

Just to share a couple more of last Friday's full moon effect on the market. See the whipsaw price action pre and post the data. Subsequently a quick surge to a high of 1.3178 before turning all the way lower and opening with a gap this morning.

Full moon effect - the whipsaw before and after US employment data

I was so glad I followed my trading rule and took whatever small profit I had on Friday night from my long E$ position and enjoyed my weekend without having to think about the possible outcome of the elections.
Market tested 1.3178 very briefly, way short of my target of 1.3240/60 (Revisiting previous bear targets - 3 May 12) and stalled, resuming the bear trend on Friday night. There was market talk of a 1 yard E$ order up there.
Having opened a gap roughly between 1.3080 to 1.3065, market will somehow try to close it subsequently. Question is when.....  Sell stops were pretty much flushed after 1.2974 (previous low) was taken out. The selling stopped as it touched the 61.8% level at 1.2955.
I have to admit that I am not very familiar with this price action and compounded by London being out today, I would prefer to stay clear for now and observe for the next few hours.

But one thing is clear for now, the bears are in charge and we are indeed revisiting the previous targets I was looking at..... 1.28/2700. Will update when the signals are clear.