Here are some random thoughts from your's truly.
As trader's were told we must always continue to learn. However, if we're happy with our trading performance why should we continue to learn about more tools or methods? Wouldn't more info just over complicate things?
People always say that the small time-frame charts are random. This one rustles my jimmies the most. On the daily and above charts, you're dealing with Central bank actions, Wars, Terrorist…Continue
Finally we have some life in EU. On the daily it was stopped near 1.40 which was near the top of a wedgie pattern. Its also broken below an uptrend line which had been running since June of 2013 and has broken back below a broken downtrend line which became support from April 30th to May8th.
On the weekly Eu is still trading above a broken wedgie pattern with the broken downtrend line and the still intact uptrend line likely to become support. Candlestick wise It looks very toppy.…Continue
The situation on the daily and weekly charts remain the same as posted here: http://www.forexstreet.net/profiles/blogs/pivot-addict-trading-eu-4-9-2014?xg_source=activity The daily chart is bouncing off an uptrend line since friday. Weekly broke a downtrend line which is now acting as support. Both are quite bullish.
On the hourly chart it broke above monthly…Continue
To start off lets look at the bigger time frames to get a sense of the bigger powers driving EU.
Keeping it simple: on the daily its in a clear uptrend and held the uptrend line on friday. On the weekly it recently broke a strong downtrend line, which is now acting as support, but is still in a general triangle shape.…Continue