its amusing how all of last week i was screaming long long long all the way close to 1.3000 trading against the trend the whole time. this sunday im like...well see a new low before it goes higher...trading against the trend the whole time. I did not get burned last week...this week...i still feel the fire as i type this.
technical analysis. earlier i mentioned an upwards channel. that channel just kept going up and up with each tap of the lower wall giving more fuel to the bull train. each resistance when broken and retapped became support. that channel again tests the lower boundaries with a possible breakout here. the strong resistance at 1.2875 once passed did not become support as has happened all night giving the first indication this uptrend may have reached its high. the true question now is what happens at 1.2815 as it should be strong support now...also marking 23.6% retracement for this uptrend. hope some water gets put over this fire or i am going to feel the pain of this one for some time..
technical analysis. earlier i mentioned an upwards channel. that channel just kept going up and up with each tap of the lower wall giving more fuel to the bull train. each resistance when broken and retapped became support. that channel again tests the lower boundaries with a possible breakout here. the strong resistance at 1.2875 once passed did not become support as has happened all night giving the first indication this uptrend may have reached its high. the true question now is what happens at 1.2815 as it should be strong support now...also marking 23.6% retracement for this uptrend. hope some water gets put over this fire or i am going to feel the pain of this one for some time..
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