Fake confirmedWe look at the Weekly chart of the Euro and last weeks trading
suggests more downside. Understand that the selling that happened last week and the fact that we are back inside the wedge suggest more selling is coming. We will look for bounces to resistance and look for TRIGGERS. If they take another stab at a breakout watch the high of last week. If we reach that high then the sellers have dried up and we should get a nice pop. For now we look for shorts back to the bottom of the wedge.
M6E1! trade ideas
Fakey Breaky...what?The Euro is back under major resistance...was this a fake break out? We are watching closely and looking for opportunities to the short side. if the bulls rally and take out the most recent highs then the squeeze will be on and Euro bears will be jumping off the ship. We want to see a test of the major resistance and sellers to step in. NO TRIGGER, NO TRADE!
More confirmed testing. Where is the supply in this market?The chart tells a story and the story unfolds bar by bar.
The Euro knife has stuck in the groundNice consolidation since the Euro's knife has stuck int he ground. We would like to see a solid break of the channel before getting involved. Stick it on your watch list.
EURUSD testing the selling climax from March 2015The chart tells a story and the story unfolds bar by bar.
EURUSD showing lack of supply at previous resistanceThe chart tells a story and the story unfolds bar by bar.
Supply hitting the EURUSD but there is still demand presentThe chart tells a story and the story unfolds bar by bar.
EURUSD testing supply on high volume bars in the backgroundThe chart tells a story and the story unfolds bar by bar.
Note: From bar 50 and on, all bars have been renamed and reanalyzed due to modifications in the data feed. Bar 44 has been reanalyzed as well.
EUR: Bears locked into poor positions.Serious bullish behaviorThe chart tells a story and the story unfolds bar by bar.
EURUSD: Not responding to the strength, No Demand insteadThe chart tells a story and the story unfolds bar by bar.
Note that description of bar 51 has been elaborated.
EURUSD: Demand could be absorbing supply at these pricesThe chart tells a story and the story unfolds bar by bar.
EURUSD: Demand is trying to support the market above 1.08The chart tells a story and the story unfolds bar by bar.
EURUSD: Failed Test of Supply + Increase of Selling PressureThe chart tells a story and the story unfolds bar by bar.
Note: There is an issue with the data feed and yesterday's bar is missing (bar 50 on May 26th, 2015). See the related idea below for details on the analysis of that bar.
EURUSD showing no supply with the lowest activity of the yearThe chart tells a story and the story unfolds bar by bar.
Confirmed No Demand and more weakness in the EURUSDThe chart tells a story and the story unfolds bar by bar.
