EURO$ below all MA's, in the void. Next downside targets off the daily chart for support and resistance levels suggest about 80 more pips south. Two false Rb's on the MACD. Just thinking out loud here when the price action is above or below all the MA's and there is a Rb or Rt, should more weight be given to the next targets, in this case the s/r lines and let the price action dictate what to do??? Proceed with extra caution since these are counter trend trades anyway??? I'm standing aside for this pair.
$Yen at the bottom of the 1hr channel now but the 4hr is starting to open up a little and form its own channel. Going to be cautious with both pairs.
Let the market come to you...now where have we heard that before???
$Yen at the bottom of the 1hr channel now but the 4hr is starting to open up a little and form its own channel. Going to be cautious with both pairs.
Let the market come to you...now where have we heard that before???
Attached Image (click to enlarge)
) Price action is long and has been long for many days now however, we have just touched the 365 ema and price has hovered under that ema. If I have this correct, close has not been above the 365 on the last two candles so would show a sign price action has hit major resistance until it breaks through and closes above. Of course, we proceed with caution on a rounded top (and I won't be trading it), but just wondering if my analysis is correct. Tks all.
. I heard that it can happen after a number of losses, but that is not my case, I was almost everytime right lately and it scares me. Has anyone faced the same and how can I overcome that. I didn't take beautiful BOZ yesterday and now there is a TC forming on EUR, I could have taken it from one hour, but again something stopped me.
: ) Sounds like you are doing great, and as always thanks for the positive comments.
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