EUR bias was down and GU bias up. Both provided trades in those directions.
EUR stopped at a previously identified support area 1.2920 for 3+ hours before an engulfing close signaled a move up. An evening star pattern signaled a move down in the London close time frame.
GU moved up around London open in line with bias. An evening star pattern at a previously identified resistance level 1.6135 signaled a move down.
Both moves down occurred above our 1hr 32lwma. If you are going to sell above your trend indicators look for more than 1 candle 1 time frame. For example in the move down in GU we had the resistance level on D chart, 4hr RSI crossed lower, 1hr evening star (by definition a 3hr pattern) with divergence.
2 Nov - Non Farm Payroll day. Will be quite happy to be on the sidelines.
EUR - 4hr lower high with support 1.2920. Bias down but support could provide bounce.
GU - 4hr crossed lower so short term bias down, support level could provide bounce.
No comments:
Post a Comment