but you re intra day scalper, remember? This is daily chart
yes yes...im an intra day chap!
B of A forex strategist thinks Euro will top out around 1.42...and then turn south aiming at 1.25....
He said that he would be very concerned if we see 1.46+
rtsurvivor
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This is what makes trading the FOREX so interesting and fun. Everybody has a view on what is going to happen.
I'm a pattern trader and as of this morning the patterns, Ascending Triangle, Bull Flag, say that there is going to be some up move. I take each pattern on it's own merit.
If they have supporting indicators then I go with them. The ones in the chart above for instance have support from the MACD and a couple of others. The intra-day can also be traded based on these signals. ie:
The 60' for this pair has some resistance at the 1.4156 level. that could be a good Buy.
However, the 30' is showing some weakness and could maybe be sold at the 1.4113 support area. NOTE: I wouldn't sell it, but that's just me. :smart:
The 15' doesn't have any Buy support but it doesn't look like a good trade to me anyhow.
I don't normally work below the 30' prices. however, the price patterns I watch for:
All work in these time frames.
There are probably 100 other patterns to watch but I am in the KISS (Keep It Simple Stupid) crowd of traders. :cheesy:
One last NOTE: any of the patterns listed above must have confirming support from at least 2 indicators before I would consider trading any of them.
Good trading to all
RT... :idea:
I'm a pattern trader and as of this morning the patterns, Ascending Triangle, Bull Flag, say that there is going to be some up move. I take each pattern on it's own merit.
If they have supporting indicators then I go with them. The ones in the chart above for instance have support from the MACD and a couple of others. The intra-day can also be traded based on these signals. ie:
The 60' for this pair has some resistance at the 1.4156 level. that could be a good Buy.
However, the 30' is showing some weakness and could maybe be sold at the 1.4113 support area. NOTE: I wouldn't sell it, but that's just me. :smart:
The 15' doesn't have any Buy support but it doesn't look like a good trade to me anyhow.
I don't normally work below the 30' prices. however, the price patterns I watch for:
- Triangles
- Flags
- 123 UP - Down
All work in these time frames.
There are probably 100 other patterns to watch but I am in the KISS (Keep It Simple Stupid) crowd of traders. :cheesy:
One last NOTE: any of the patterns listed above must have confirming support from at least 2 indicators before I would consider trading any of them.
Good trading to all
RT... :idea:
