Friday, August 10, 2012

EURJPY 9 Aug update www.vantagefx.com

The analysis by Dima Chernovolov yesterday morning was certainly spot on with EJ falling nicely.

In terms of how I look at charts, like the EUR, there was no follow through higher from the engulfing positive close on 3 Aug, D chart divergence showing. 4hr lower high after divergence, RSI below 50 level, again see how the W pivots have contained price action. 1hr flips over to lower high.

A very nice set up, we were selling EUR.





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