Hi Majimaji - I notice you have 2 buys already on the EU with both in profit atm and you are expecting higher whilst above your 4 hr up trendline.
I can see from other traders as well - even those who are bears they do expect a pullback before a drop with many forecasting back over 3100 and somewhere around the 3150 - 75 area.
I am sure you would be quite happy to pull both your buys at that area if they failed to break resistance - but just out of interest - would you hold one of your buys if it then dropped below your first entry and then go the sells - or are you expecting if we get up over 3130 + we have enough supports from 3075 to 3100 to keep us up and go on to over 3200?
It looks as though the EW traders expect lower under 3000 after a retrace up and if they are correct I still have the EU in an uptrend on the weekly down to slightly below 2900.
I personally, am neither bull or bear and will be both buying and selling as the waves change after the opens tonight and tomorrow's European Open.
Have a great week Majimaji and look forward to more of your thoughts
Hi Peter thanks for your great analysis, was holding two trades over the weekend at break even, got stopped out on one entry i had i broken even but holding long from 1.3016 with stop at 1.2980, i believe we are targeting 1.3150/60 where sellers are likely to re-appear before probably the next leg down. I have my tps 40pips apart
Hi Majamaji - I think the next clues are whether we do get above say 55 and 75 again - with supports holding over 3016. No 55+ and under 16 would then indicate down below 3000. GL - regards Peter
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