Recap + EUR GU EJ 11 Dec

Recap 10 Dec

Bias was down which did not play out.

GU did signal a counter trend buy opportunity with a 4hr engulfing close, higher low at W M2. This halted the 4hr lower high lower low flow. A higher low on 4hr, by definition a multiple candle pattern, showing over many hours price does not want to go lower.

EUR support level 1.2880/W M2 held, 1hr had a higher low following divergence, showing over a 12 hour period that it did not want to go lower.

If you want to go counter trend you need multiple reasons to do so.

11 Dec

EUR - Positive close on D but we are still below the 8 lwma and RSI has not crossed its signal line (but on 50 level). 4hr and 1hr flow now higher low. Bias up.

GU - D higher low engulfing close, 4hr flow now up. Bias up.

EJ - Another D hammer, not moving up with same enthusiasm as EUR. D below 8 lwma and RSI nowhere near to crossing up.

Only time will tell if EUR and GU are going up or if these D moves are a test and we get lower highs going forward. For now the short term flow is up.