Recap 25 Oct - GU bias was up. 1hr 8 and 32 lwma's good angle up,
engulfing pos closes confirmed the signal. EUR was no bias but the pos
close, shooting star, doji then negative engulfing close rejecting the W
pivot was a good sell signal.
26 Oct
EUR - D neg close, RSI below 50. 4hr and 1hr below RSI 50 level. There could be a move up from the support level. Bias down.
GU
- D pos close. 4hr and 1hr flow on higher high higher low. However the
US morning session did not push up any higher so there is obviously the
potential for 4hr to flip over to signal a sell. If GU was still to go
up and the two biggest markets open at the same time couldn't do it,
then alarm bells should start ringing. No bias either way i.e. will
trade good engulfing closes.
These highly correlated pairs are moving in opposite directions for now, that shouldn't last too long.
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