Friday, July 30, 2010

EUR/USD 4H



Not my favorite pair, but doing analysis this morning some intersting observations, sure strong uptrend sofar, but looking @ 4H and Daily, we have come close to important levels and i am looking to shorts with tg to min. 1.25 area, as an retrace of this last 2 month rally - reasons for that:

1. close to 38.2 level on daily of the entire move down from @ 3150
2. clear 5 waves up with wave 5 being 127 extension of w4 (which is most of the time top)
3. daily, 4h divergent
4. wedge
5. if it wont drop from here then 1.3150- 1.32 is new target for shorts which is 161 extension of W4

My sell limit was not hit, will look to reenter manually , safer is on 4h wedge break and TL retest if we get that

0 komentarze:

Post a Comment