I hope I'm seeing this rt on SPX...
EURO - Spotting a descending wedge and 3155-60 is resis top... on a pattern play it is a bullish setup but not till above 3170 will be cautious as stocks seems to be on the lower side..
Now I wish it was that simple.. EU 4 hrs have an indication of a RS been setup and a 3075-80 as a possible neck for a move lower..
Well then have 2 hrs comes in singing the blues where a touch into 3075-80 and a bounce above the jazzy blues would negate the 4 hr HNS view and be back to the 8 hrs descending wedge view..
lol....... I know sounds crazy but been a techie gotta show what I see and perceive it rather biasing it out..
throwing in EU 30 mins, just to show how rejection is dealt with in this mkt.. I don't want to say it loud, but mkt don't like rejection.. Kinda it's a b***h...............
On the other side last nite i lost my entire set of saved charts.. All 200 of em...
gotta redo them from scratch and that's a ................ well............ u know what ...
Patience is virtue. The sooner we learn this all, sooner we can start walking to the bank. Good Luck to all of us
The trick is to wait the price meet ur limits, instead of one jumping in.. however scalps is a totally different scenario and is not everyone's cup of tea
Disclaimer: I'm not at all suggesting trades when by either posting the graphs, or my entries. You can view it, but in the end you have to use your own logic and approach, as there is no certainty about this uncertain market...
EUR/USD found support in 1.31 this morning and as long as we trade above this level price might extend higher to test the 1.32 high. A failure to take out 1.32 will most likely lead a decline to 1.3050 - is my main scenario.
The possibility exist that we breakout above the 1.32 high and if this happens price will most likely trade to 1.3250.
A breakdown under the 1.31 low created this morning will also take us to 1.3050 and possibly down to 1.30.
German ZEW Survey will be published today at 09:00 GMT - a higher outcome than 19 will most likely increase lead to more Euro buying, a lower outcome that 19 will most lead to a selloff in the Euro.
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EUR/USD 60 min chart
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3160 played out.. expecting retrace upto 3120 or around to see if next round of buying to come..
a break higher clean above 3170 will take the price into around 3133-38...
Patience is virtue. The sooner we learn this all, sooner we can start walking to the bank. Good Luck to all of us
The trick is to wait the price meet ur limits, instead of one jumping in.. however scalps is a totally different scenario and is not everyone's cup of tea
Disclaimer: I'm not at all suggesting trades when by either posting the graphs, or my entries. You can view it, but in the end you have to use your own logic and approach, as there is no certainty about this uncertain market...
3160 played out.. expecting retrace upto 3120 or around to see if next round of buying to come..
a break higher clean above 3170 will take the price into around 3133-38...
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Originally Posted by Malabar 
