Eu bounced off weekly 10ema now and has a struggle ahead to get down thru the 4h 200e and 10e. However, if it does its at a RN and any retraces can be watched for a classic le1 entry on 15m. Update: price has honored the HTF ema's heading up to test RN 1.2400; a nice long trade off RN 1.2350 paid nicely.
http://gyazo.com/ba134c3d9b9243b40b1...png?1344249041
Gu: retested the weekly 10e and now has broken down thru HTF ema's.
Day chart shows consolidation with price presently two thirds down toward the bottom of it. Don't want to trade too close to the bottom of consolidation.
The 15m chart shows price retraced up for a 10e first touch and has offered over 35 pips so far down to RN 1.2350.
No one knows what will happen next but if price breaks that RN and retests the 10e with a candle pattern it could be a good entry for further down move.
ADR has been reached so a pullback could be next. But these are volatile times and ADR may not be respected if volatility continues.
http://gyazo.com/db803967ba2a93ac9b5...png?1344249873
http://gyazo.com/ba134c3d9b9243b40b1...png?1344249041
Gu: retested the weekly 10e and now has broken down thru HTF ema's.
Day chart shows consolidation with price presently two thirds down toward the bottom of it. Don't want to trade too close to the bottom of consolidation.
The 15m chart shows price retraced up for a 10e first touch and has offered over 35 pips so far down to RN 1.2350.
No one knows what will happen next but if price breaks that RN and retests the 10e with a candle pattern it could be a good entry for further down move.
ADR has been reached so a pullback could be next. But these are volatile times and ADR may not be respected if volatility continues.
http://gyazo.com/db803967ba2a93ac9b5...png?1344249873