Currently holding short at 1.66808. Another will be added on return to the 1.6257 area. A third will be added if a higher top is made (double or triple). The current trade will continue down to the first profit zone at 1.5274.
Trade active:
This may take a while. The pair needs to work it's way up through 2 layers of heavy resistance, but it has been slowly grinding its way higher since February.
Trade active:
You can see in the picture that, even though price action was negative, the candle body found support and spent the afternoon climbing back out of the support zone. We'll soon see. My thought is we may start off the week with a sizable green day. The uptrend remains intact, hopefully it'll make some more progress next week.
Trade active:
taking a closer look at the close shown above reveals a not so bullish ending to the week. The pair just finished a down section and is retracing. Hence the pullback to support shown above. If it continues it's current move we should expect a drop down into the support zone, or lower in the coming days.
Trade active:
ea has clearly broken support here. It's not good for my current attempt to add to the position, but it is great for the pip count (now ~850). I will wait the outcome of this drop and wait for the next bullish move to see it the pair will get closer to its various 50% levels which lie up above 1.62 (1.6257 is the first target).
Trade active:
Comment:
The pair is trying to drop out of the channel again this week. The current setup looks decidedly bearish on both the daily and weekly time frames. However, as before, it has broken down directly onto major support. A piercing line here would turn this into a very bullish set up and could get the pair on its way to the 50% levels finally.
Trade active:
You can see it is still broken down into support below. Today looks like it may once again attempt a move back up into the trend channel. We'll see. A break of the 1.5720 area opens the first target zone around 1.5274.
Trade active:
this one continues to meander along in what has become a down sloping trend. Recently it has made an actual impulsive move (not consolidative by structure) towards the top of the channel. It may or may not make it, and if it does there's no way of knowing now whether it will make it through resistance. Will continue to wait for an opportunity to add higher.
Trade active:
currently waiting for a move above the 50% of the reference range, or failure to progress. The pair recently touched off the 50 of the Jan. drop from the spike. It is a strong move up. A retrace has been completed on the weekly, and the pair should continue up from here. However, overhead resistance is huge and we may have a leg down first.