Disclaimer

Disclaimer: This blog should be read as a 'whiteboard' of my daily thoughts and ramblings and specifically not, in any way, advice to trade. My interpretation of the works of Gann, Goodman, Fibonacci, Elliott, Hurst et al; is entirely my own and should be read as such. Any opinions, news, research, analyses, prices, or other information contained in this report are provided as general market commentary, and does not constitute investment advice. I will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

Wednesday 25 June 2014

#Eurusd $eurusd #Trading

My cover got taken above 1.3630 on that move up, but I have banked the longs and price is roughly back down to where that kicked in; cover now above where I banked at 1.3655. Here is the 24 bar range chart again: I have found that drawing trend lines between adjoining 'humps' made up of the price envelope provides interesting projections over and above the price turns themselves; I assume because the PE includes extremes of the usual range. Anyhow, I want to buy when the RSi is nearer 25 and not up here. The upper trend line is being peppered and the bollingers have some life in them granted. But if the upper trend line fails here, maybe we have a diagonal in play. Don't know till we get that target RSi reading, but I am not chasing up here. So, trying to stay short whilst that cover remains in place.
Posted by at

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)