Bull Play:
price bounced nicely from psychological 1.25 and the lower trend line.
the bounce has potential up to the upper limit of channel at about 1.268 by about 9 Oct
but price has to take out a few fib levels along the way to reach the target.
Bear Play:
wait for price to come to significant fib levels.. and wait for short term (5M) long trend to die out before entering.
need to be cautious due to large terrain for the bulls to advance.
intraday trading has been long bias.
plan is to continue to build foreign cap for long skirmishes. take note of potential bull trap and big news.
price bounced nicely from psychological 1.25 and the lower trend line.
the bounce has potential up to the upper limit of channel at about 1.268 by about 9 Oct
but price has to take out a few fib levels along the way to reach the target.
Bear Play:
wait for price to come to significant fib levels.. and wait for short term (5M) long trend to die out before entering.
need to be cautious due to large terrain for the bulls to advance.
intraday trading has been long bias.
plan is to continue to build foreign cap for long skirmishes. take note of potential bull trap and big news.
long scout is back home at break even. i'm flat now.
Bear play: double top (hourly), price fail to stay above psychological 1.26, downward channel, short term chart downward, bull flag play is deformed.
Bull play:0.5 fib (1.2585), 0.68 fib (1.2565), 30 Sep low (1.2570).
My play: wait for price to retest neckline. wait for NY open. bias is short.
meanwhile off to the gym
Bear play: double top (hourly), price fail to stay above psychological 1.26, downward channel, short term chart downward, bull flag play is deformed.
Bull play:0.5 fib (1.2585), 0.68 fib (1.2565), 30 Sep low (1.2570).
My play: wait for price to retest neckline. wait for NY open. bias is short.
meanwhile off to the gym
- #57
- Oct 7, 2014 6:28am Oct 7, 2014 6:28am
- Joined Apr 2013 | Status: Now I know you | 5,576 Posts
price rocketed and i only had a small scout in.i think bears are gonna retest 1.25 due to the downward channel. but since i missed the top of the channel to short. i shall stay with long. average cost is 1.2596. stop shall be at break even. now wait for bull flag to form..
don't predict direction, but dance with flow of water
- #58
- Edited Oct 8, 2014 7:44am Oct 7, 2014 8:43am | Edited Oct 8, 2014 7:44am
so NY open went up. my bias was wrong.
bull flag seems to be still in play.
1.26 WAS supported.
0.5 fib was respected
long scout (1.2622) now. Thanks PriceA for your reverse H&S analysis. always good to know what the opposite camp is thinking
bull flag seems to be still in play.
1.26 WAS supported.
0.5 fib was respected
long scout (1.2622) now. Thanks PriceA for your reverse H&S analysis. always good to know what the opposite camp is thinking
