EURUSD CONFIRMS WEEKLY REVERSAL PATTERN
THE AGGRESSIVENESS OF THE NOVEMBER 13 BOUNCE WAS THE FIRST RED FLAG.THE 75-PIP RALLY ONN THE 13TH LED TO AN IMMEDIATE RETEST OF 1.1300 AS A NEW RESISTANCE.THAT WAS THE SECOND RED FLAG.WEDNESDAY CLOSE BACK ABOVE 1.1300 HANDLE WAS THE THIRD WARNING SIGN FOR SHORTS.BUT THAT LEVEL WAS ALSO TAKEN OUT WITH THURSDAY 1.1325 CLOSE.THE WAY I SEE IT,THURSDAY CLOSE WAS ENOUGH TO TURN AT LEAST SLIGHTLY BULLISH.IN FACT,THATS EXACTLY WHAT I DID.I ENTERED LONG AT 1.1335 FRIDAY MORNING.LUCKILY, I GOT MY ORDER IN JUST BEFORE EURUSD SURGED HIGHER BY 80 PIPS.BUT DON,T WORRY. CHANCES ARE YOU;LL HAVE OTHER OPPORTUNITIES NEXT WEEK.IF YOU MISSED FRIDAY MOVE.
THE AGGRESSIVENESS OF THE NOVEMBER 13 BOUNCE WAS THE FIRST RED FLAG.THE 75-PIP RALLY ONN THE 13TH LED TO AN IMMEDIATE RETEST OF 1.1300 AS A NEW RESISTANCE.THAT WAS THE SECOND RED FLAG.WEDNESDAY CLOSE BACK ABOVE 1.1300 HANDLE WAS THE THIRD WARNING SIGN FOR SHORTS.BUT THAT LEVEL WAS ALSO TAKEN OUT WITH THURSDAY 1.1325 CLOSE.THE WAY I SEE IT,THURSDAY CLOSE WAS ENOUGH TO TURN AT LEAST SLIGHTLY BULLISH.IN FACT,THATS EXACTLY WHAT I DID.I ENTERED LONG AT 1.1335 FRIDAY MORNING.LUCKILY, I GOT MY ORDER IN JUST BEFORE EURUSD SURGED HIGHER BY 80 PIPS.BUT DON,T WORRY. CHANCES ARE YOU;LL HAVE OTHER OPPORTUNITIES NEXT WEEK.IF YOU MISSED FRIDAY MOVE.