have a good weekend everyone!
DislikedWhat do you guys think about the weekly pin on this pair?
Price closed the week on top of the yearly .382 fib which seems to have held up well as solid Sup/Res going back to OCT08.
I know it's hard to see Euro making a big reversal but these daily/weekly pins don't lie.Ignored
Dislikedyes we are in a rectangle, and so buy on the low is ever wellIgnored
DislikedI'm a day trader so for me, I'm going to wait for a clearer signal before looking for an entry point. IMHO PB's that are in a consolidation zone can be tricky. I've attached a 4H chart which also shows a PB but it did not break the support level.
Couple of reasons I'm waiting:
- The velocity of the wave down in the blue area makes me cautious on going long. From what I've read in the fundamentals, BOJ wants the Yen devalued and has been pumping Yen in the system yet the trend is in the opposite direction since October.
- E/J has a tendency to...Ignored
Dislikeddude tokyo hasn't even opened yet...??Ignored
DislikedYea when i say Market open,no ses open ...THis is test phase,i didnt trade nearly when market open and i opened trade to see what will hapen...Ignored
DislikedOk cool. You da man Petar. I wonder how much activity there will be this week. I'd prefer the market to be quiet so I don't feel compelled to trade.Ignored