Late yesterday EUR has reched my short target and continued to the downside. Evening star model was confirmed by the huge negative candle yesterday and the close price 1.3304. It is expected today to test the 1.3250 support and i don't see it to be broken so a new move upside will develop at least to 1.3340 and may be above. If the price goes again above 1.3350 then 1.3404 will be attacked and will be broken with target 1.3450-85. Top resistance level is 1.3485 where MA200 passes.

GOLD managed to stay above the 1678 which is a good sign for bulls, but the metal is still in a recovery mode and it's difficult to determine the correct entry point.

For today:

LONG EUR above 1.3250 SL 1.3240 TP 1.3340

SHORT EUR below 1.3240 SL 1.3255 TP 1.3200

LONG GOLD above 1670 SL 1667 TP 1690 and above

SHORT GOLD below 1665 SL 1670 TP 1650 and below

Good luck!

Views: 1440

Comment by Kevin Henry Ostermey on January 16, 2013 at 7:19am

Dear Vladimir, If I may ask are you LONG or Short on EURO/USD today? Kind regards, Kevin

Comment by Kevin Henry Ostermey on January 16, 2013 at 7:25am

Furthermore Vladimir, what time frame do you work on when trading? 15min, 30min, 1hr or 4hr? What is the best time frame to work with? Many thanks, kind regards, Kevin

Comment by Vladimir Mihaylov on January 16, 2013 at 7:58am

best time is different each time - 15-30 min are for scalpers i'm not a scalper. I work mainly on H4 , also H1 and Daily as a reference. For now i'm out of the market waiting for price to come around 1.3250 to enter long as the position above.

Comment by Ronald Mewengkang on January 16, 2013 at 8:01am

Gold still have a bullish momentum, but i wanna watch your yesterday resistance @1689/90. if it touch 1690, i'm gonna put some more long in it till 1705/07 and watch for my next resistance at 1709/10.

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