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Quoting SunTrader
{quote} Yes actually. I know I am saying this with hindsight but Friday's price action with probably only 5% of normal volume was bound to be reversed quickly since it broke support without full participation. So once buyers came in that panicked the weak shorts to cover. Now let's see what follows. More buyers to push up to new highs or emboldened but stronger shorts than the others.
It was a good call from you.
Not only was the move reversed the upmove was much stronger than the collapse.
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Find a trend and milk it for all it is worth. That's how to be profitable
EurGbp
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Find a trend and milk it for all it is worth. That's how to be profitable
FxCM Dollar Index - Daily Chart
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Find a trend and milk it for all it is worth. That's how to be profitable
Dollar Index is retracing. Perhaps the commodities can breathe a little...
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Find a trend and milk it for all it is worth. That's how to be profitable
have you guys really turned bullish on oil ?
Quoting trexy123
have you guys really turned bullish on oil ?
Oil is making sound overtures to the upside at the moment. Weakness in the $ is helping. however I am not biased in any direction right now. Just watching it
Find a trend and milk it for all it is worth. That's how to be profitable
Quoting Olu
{quote} Oil is making sound overtures to the upside at the moment. Weakness in the $ is helping. however I am not biased in any direction right now. Just watching it
Hi Olu can I know why you do not have any biased in direction ?
EurGbp
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Find a trend and milk it for all it is worth. That's how to be profitable
Quoting trexy123
{quote} Hi Olu can I know why you do not have any biased in direction ?
Hi Trexy123

I had no bias because I was confused with the price action I was seeing. However now I am bullish because of the break above the 54 level. I am having problems uploading charts at the moment otherwise I would have shown my thoughts on a chart

Thanks T
Find a trend and milk it for all it is worth. That's how to be profitable
Quoting Olu
{quote} Hi Trexy123 I had no bias because I was confused with the price action I was seeing. However now I am bullish because of the break above the 54 level. I am having problems uploading charts at the moment otherwise I would have shown my thoughts on a chart Thanks T
I am sure a lot out there are now bullish because of the break out. How would you trade it now? What price to enter and sl?
With inside day down close on below average volume on Friday I wouldn't say breakout is confirmed - just yet anyway.
up it goes again ..............
Hi Olu

Happy to post for the first time in this forum here.
just wanted to give you another thought about eur/gsp:
Your 4h chart from the 6 of April is nice. to me it looks like market is retesting the level you drown as a resistance now.
what will you do if braking 7162 takes place?

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Hi Olu.

have you had any new thoughts about eur/gbp?
to me it looked like it is going down but than a bullish bar and now I don't know.
so the pair broke 7162 level. do you think there was anything to do with it?


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Quoting Motish
Hi Olu. have you had any new thoughts about eur/gbp? to me it looked like it is going down but than a bullish bar and now I don't know. so the pair broke 7162 level. do you think there was anything to do with it? {image}

Hi M

I am bearish this pair and think that ultimately price will continue downwards. I really can be sure of bullishness if price takes out the 50sma on the chart (around 7250). The stochastic is angling up hinting that some upside might be in store however according to my trading plan I cant trade against the trend so I have to wait this possible move out. Or if it is a new uptrend it has to show it. That is where I stand on eurgbp. Fundamentally, by the way this is a bad timing tool, but important nonetheless the eurozone is not doing as well as UK and the greece issue is still outstanding
Thanks for your visit to the thread. Please continue to post any useful material.

Olu
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Find a trend and milk it for all it is worth. That's how to be profitable
EurAud - This weekly chart really shows what is really going on
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Find a trend and milk it for all it is worth. That's how to be profitable
Quoting Olu
EurAud - This weekly chart really shows what is really going on {image}
This trade idea did not work out instead we got the mother of all bounces off support. That's the way it goes sometimes. I was bearish the eurgbp. Look at where is now.
Find a trend and milk it for all it is worth. That's how to be profitable
US$ is trying to find its legs
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Find a trend and milk it for all it is worth. That's how to be profitable
Cocoa - check out the laboured move up before the reversal candle. That was price action warning of the drop.
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Find a trend and milk it for all it is worth. That's how to be profitable
Coffee
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Find a trend and milk it for all it is worth. That's how to be profitable
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