This journal is purposely to challenge myself to safe my first real forex trading account and also to increase my discipline level in trading. I am a beginner with intraday trading style.
Things may get interesting in the next week or two. Currently, EUR/USD has been trending upward from the 1.3300 low last Friday. However, the price has been following the trendline connecting the July low and the Sept low. Only, it's been tracking the trendline from *below*... I'm uncertain which way it'll go ... breakthrough the upside and take off to the moon... --or-- finally hit the trendline, then collapse... --or-- make us sick by slowly tracking below the trendline for weeks, teasing us with pull-aways and pull-backs..., but never making a decisive move... Fed vs ECB ... Weak dollar vs weak Euro... Which will win the battle?
As we see, Weekly timeframe shows the strong reversal CS pattern. Fibo for swing buy shows that EU two destination 1.5914 (first pit stop) and 1.36955 (the second pit stop). This is just my opinion which based on technical view.