timwest

Euro Fx/U.S. Dollar -EURUSD -Daily - 3rd INSIDE DAY so far

FX:EURUSD   Euro Fx/U.S. Dollar
817 9 18
The Euro             is working on its 3rd consecutive INSIDE DAY.

What is an "INSIDE DAY"? When the high of trading is below the previous session high and when the low of trading is above the previous session low.

How often does this happen? I can't find another instance in the past three years. I designed my charts to show me bars as black when they are "INSIDE BARS" or "OUTSIDE BARS", so it is easy to see them.

What does this mean? The market is waiting for news.

What do you do? You can use levels like this for future reference as it shows a "balance point" for the market which may be viewed as "fair value".

Tim 8:30AM EST Friday, Nov 14, 2014
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NielsG
2 years ago
Hmm, your statement didn't last very long :)
+1 Reply
timwest PRO
2 years ago
In the time that it took to post... the EURUSD broke under Thursday's low and now no longer has an inside day.
Reply
timwest PRO timwest
2 years ago
Oh well!
Reply
2use
2 years ago
Back to 0.00 atm . Watching this as a good play for some months
Reply
timwest PRO 2use
2 years ago
All these days are "inside" the first day, so technically speaking, the market is really still very quiet.
Reply
elcololp timwest
2 years ago
long here?
Reply
elcololp elcololp
2 years ago
short dollar index? long GOLD?
Reply
2use elcololp
2 years ago
Dollar has room to go down. Euro has room to go up in relation to dollar. Gold is still sold...but may turn. I dont see anything that can tell you for sure which one to buy - do use your own thesis and opinion. It is mostly a gamble. But i can imagine a run in EUR/USD in Gold....but when is another question
Reply
2use
2 years ago
How about double bottom?
Reply
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