Wednesday, February 6, 2013

Recap 5 Feb, EUR GU EJ 6 Feb

Recap 5 Feb

EUR - Bias was down. We got a doji at W S1 1.3464 and the identified support level that sparked a return to trend.

GU - I had 1hr can go either way its on a higher low and lower high. Bias up but if 1hr falls it will shift short term flow down again. London open took us up then a large upper wick rejecting move above W M3 and 1.5800 followed by a negative close took us lower.

EJ - View was 1hr can easily flip to a higher low here to revert to trend. No bias can go either way, we'll see what London open brings. Reverted to uptrend.

6 Feb

EUR - Positive D close, yesterdays high respected over night. The D positive close should follow through higher, 1hr flow higher high higher low. Is the W pivot 1.3587 at a possible head and shoulders level? Bias up. Failure for that kind of D candle not to go higher should sound some alarm bells.

GU - D engulfing negative close should follow through lower. D and 4hr charts showing divergence, flow lower high lower low. The divergence is a concern, bias down and looking for solid set ups to continue trend.

EJ - Positive D close just about getting to the previously mentioned resistance level 127.77 area. D, 4hr and 1hr showing divergence. Bias up until price action confirms otherwise, even then if we do have a pullback will be looking for signals to resume uptrend.







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