Well the EU pushed some and is at a resistance area again (blue arrow). The bulls will need some help to push this one to new highs (in the context of the chart shown here). News to come. Will have to see what the market gives today. FX4
NFP Friday! Here is the chart as it stands. Price hanging around to move into position. Watch how it moves and let it tell which way. Usually after about an hour, the real move begins to take shape after the volatility drama is over. Many ways to draw forks here...decided to stick with what we have been looking at thus far. FX4
Hello Traders, Just a reminder that the weekly wrap ups will be posted on the blog by Saturday night. Enjoy your weekend, FX4
Price showing a little weakness...long shadow on candle and also the fall below the red HL. Blue arrow could begin to mark an area for a significant tell, if price gets back there. Let's see how it plays out. Will check back in later today. FX4
Hello again traders, Well...the blue arrow (#1) did give an area for the tell (came in an hour later ) as price tested the red WIF U-MLH before beginning its descent. Added a second blue arrow as price could bounce for another test area if it is going to fall again. Could test teal L-MLH or red HL. The fact that it is now outside of the teal fork is of interest. Trade well, FX4Newbies P.S. The Glossary on the blog (Pitchfork Goldmine) will define the terms/codes used.
Hello traders, The bulls took the price higher still. Hanging around the L-MLH of the darker green fork. Have three forks going on purpose...notice that each successive fork has a progressively steeper slope. Will see how it all plays out. If it falls out of the forks, we'll see how far the bears can take it. All the best, FX4Newbies
What has the EU done? It found support at WL, blasted off and has been rolling in that gold zone. Highlighted it just for chart pattern lovers. Lots of lines there but all in play. Price will need a push from here as it appears to be "stuck". No major tells at the moment...imho, but still making higher highs...etc. FX4
Just letting you know that the weekly wrap-up of the ten pairs I follow on the blog Pitchfork Goldmine should be posted by tonight. Enjoy your weekend. FX4
Good Monday Morning traders, Price at a critical spot...hanging on the edge of the green L-MLH. Still no significant lower lows. Seeing bullish sentiment on H4 at this time. Will have to wait to see how that develops. WL could be a target. Buyers have also shown to be hanging around there. Take care, FX4 P.S. Market has also been very slow thus far.
Well... price did fall out of the green fork and found some buyers at support...at the WL area (actually at the sliding parallel drawn from the low at 1.4240). Price moving up again to darker green L-MLH. Will see what we get there. News to come as well. All the best today, FX4