Hi Greg, As TA is not a science we never can say that is not a valid interpretation... But about this specific case, in the 15 min chart I was using it was a possible trend line!
Thanks for your comments guys... Is always nice when I see people recognize my work and thoughts about the market... But better is when you feell that people is taking advantage of your work and making money in this amazing market! That is our target, make money otherwise we will not be here spending our time looking for the charts!
Certainly we are into this biz to make money. You caught my attention because you didn't trade another "system". Wish you many pips this week regards
Well... Everyone got his own system, like me, you and others... But the big difference between me and the others "systems" is I don't have necessary a system with so many rules to trade... I trade when I believe that could be a good opportunity, not just because the MA crosses, or the RSI is oversold or overbought... A good trading week for you and all the others! regards, TayOO PS - Sorry guys for today I didn't post my trading ideas, but unfortunately today I was away of markets almost all day!
not a lot of meaningful moves anyway...guess u anticipated that as you were away from market ? lol regards
True... I did notice that market today wasn't very interesting... Maybe tomorrow we will have more action!
EUR/USD intraday: under pressure. Pivot: 1.3925. SHORT positions @ 1.3915 with targets @ 1.3825 & 1.375. Alternative scenario: The upside penetration of 1.3925 will call for 1.4 & 1.405. Comment: the RSI is turning down, the pair remains under pressure and is still challenging its strong support. GBP/USD intraday: the downside prevails. Pivot: 1.6400. SHORT positions @ 1.639 with targets @ 1.625 & 1.619. Alternative scenario: The upside breakout of 1.64 will open the way to 1.645 & 1.652. Comment: the RSI is capped by a MT declining trend line, the pair is on the downside and is approaching its support.
EUR/USD intraday: caution. Pivot: 1.395 Short positions below 1.3965 with targets @ 1.3875 & 1.3825 in extension. Alternative scenario: Above 1.395 look for further upside with 1.4 & 1.405 as targets. Comments: the pair is rebounding and is challenging its resistance, the RSI is turning down. GBP/USD intraday: the downside prevails. Pivot: 1.6325 Short positions below 1.6325 with targets @ 1.619 & 1.61 in extension. Alternative scenario: Above 1.6325 look for further upside with 1.64 & 1.645 as targets. Comment: the RSI is capped by a MT declining trend line, the pair should face a further weakness.
EUR/USD intraday: under pressure. Pivot: 1.4040. LONG positions @ 1.405 with targets @ 1.411 & 1.4175. Alternative scenario: The downside penetration of 1.404 will call for 1.4 & 1.397. Comment: the pair is on the upside and is challenging its resistance, a pull back on its support should not be ruled out before a new up move. GBP/USD intraday: limited upside. Pivot: 1.6385. LONG positions @ 1.6395 with targets @ 1.65 & 1.656. Alternative scenario: The downside breakout of 1.6385 will open the way to 1.633 & 1.6275. Comment: the pair is on the upside and is challenging its resistance but the RSI lacks upward momentum.