Quoting monarchDislikedNorthpro,
Do you see the EUR/USD making its Corrective Wave at this juncture of 1.3132.
I have been watching the market make some minior corrections since the open yesterday. I would have expected the EUR/USD to rise up to the 1.3220 mark prior to entry.
I have noticed on the 1 Day 10 Year chart it showed at 1.3124 on 4/21/05 as a key area, this price has been marked on my charts since Friday, but I am watching for the rise to at least go to 1.3165 prior to any entry.
Please give me more information if you can.
MonarchIgnored
As I stated in my earlier posts, I would have liked and expected to see the E/U hit 3200's today. Wavetrade has a sell as of friday, but I have been holding off due to the new range and the breach of resistance on friday. Now that the markets have been open and have had time to digest the move, I would have expected a support on the USD weakness and a further rise to the 3200's...that didnt happen. I therefore am taking the trade pre news but have tightened up my stop to a RR of 1.55. Also there are ascending wedges on the 4hr/daily/and weekly, indicating a stong bearish signal could happen. This isnt gospel, but just a reinforcement. I am nervous about this one and the G/U as I would have expected a rise early today that didnt materialize. I will be watching closely tomorrow. Also I did take these trades but with reduced lot positions as per risk managment.
Northpro