its early @ 3575.
in my experience that is bearish.
but it did bounce.
will look for another leg.
3558 is when i turn bearish
in my experience that is bearish.
but it did bounce.
will look for another leg.
3558 is when i turn bearish
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Dislikedthat lack of a retest of the breakout level is exactly why I looked for a long position. As for my entry reasons...I do keep in mind the longer timeframes (4h and daily) which do indeed suggest massive continuation down but my gut feeling (or experience..w/e you want to call it) says that we went down too much too fast in a very narrow downtrend so a partial correction to retest that breakout level should occur before anything else.
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Now forex is not an exact science and the odds of continuing lower to retest last week's...Ignored
DislikedSure I do agree with most of your views. Any panic selling or mania buying have the same patterns as you mentioned. Last weeks were panic selling more than a fundamental well behave move.
I am also more inclined to the long side (daily up) if that daily S (the last daily swing low) is rejected and obviously if Portugal, Spain, EZ in general debt problems don't cause another panic round.
IMO, the inflationary impact of QE2 (not the speculative move) is still far from been absorbed in currencies and a weaker dollar is just been capped by short...Ignored
DislikedLOL days passed and here we go AGAIN!
Wounder does the rejection still there,
Let's watch
http://www.forexfactory.com/showpost...stcount=328219Ignored
Dislikedi just didn't want to change it, for i set a pending right at R3 3854... well, that's the game.Ignored
Dislikedi have found its better not to play with it.. i just flush.. if it looks like it, and smells like it, it must be it..Ignored
DislikedI had 2 pending Orders 4 Long & 1 of them has been activated while still have my short Position ( more than 150 pips in profit so far ) & will keep it till final Target.Ignored
DislikedSchade ... you has been the only member who got that receipt ... more than twenty hours ago ...Ignored