fOcuS @ EUR/USD

Analysis Update

Finally I am back to my basic analysis style. NO MORE CONFUSION.

NO SEE, NO HEAR, NO SPEAK. (its a wonderful tip)

Our price had complete fib ext 127 at 15584 level then retrace back down again to touch 15500 level. Unfortunately, this is third time it fail to break down. Due to the inside candle formed at last drop from 15584.

As the result, the next trend will resume to break the 15584 and reach the next fib ext 127 level, and the target price is 15659. Hopefully we can see clear top be build before we switch our mind to bearish trend.

Position open at Tokyo market open

o 15499 / sl 15446 / tp 15646

But Where Will It Turn ?

trade closed. 147 pips profit ^^

total profit for the week is 177 pips.

turning point will show itself out. i do not worry to recognize it.

it is very easy. after target price reached, check out do we have reversal candle pattern, price pattern to confirm the end of trend.

Analysis Update

06-23-08

Since our last last move on friday, 4h chart form a spin top candle on the end of run, also it hit the price of 15650 sharp.

this tells me the market will have trouble to run up against it due to the long and short trader are have same force of power to against each other.

also, our old target of fib ext 127 didnt reach successfully instead only reach 15650 sharp. this might hint us there could be a reversal be build here, or could have a uptrend consolidatation again for the next fib 127 target which is 15750.

in order to confirm this, we want to see if 15550 price hold the price or not. because 15550 is the level of previous price construction that build support for the up trend movement.