Monday, February 4, 2013

Recap 1 Feb, EUR GU EJ 4 Feb

Recap 1 Feb

EUR bias was up, initial moves followed that. Post US news was very erratic.

GU - Bias was up, GU stalled for 16 hours in total at the W pivot and previous weeks high. The 4hr higher low did not close higher. 4hr and 1hr divergence. The lower high following divergence gave a good trade opportunity.

EJ - Bias was up and we went up.

4 Feb

EUR - D is above our lwma and RSI 50 level, large upper wick. 4hr signaled sell with an evening star but now in the middle of a triangle. Triangles normally break in direction of trend which is up. D is inconclusive, no bias.

GU - Oversize engulfing close, it remains to be seen if this is a blow out last push down from sellers. Asia had no real move up. Bias down but can bounce from last weeks lows/W M2 1.5670-5680.

EJ - D positive close. 4hr double top with divergence but higher low flow in tact. 1hr divergence. There is potential for counter trend move lower. Bias remains up.






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