timwest

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

FX:EURUSD   Euro/U.S. Dollar
818 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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How about double bottom?
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Back to 0.00 atm . Watching this as a good play for some months
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All these days are "inside" the first day, so technically speaking, the market is really still very quiet.
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elcololp timwest
long here?
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elcololp elcololp
short dollar index? long GOLD?
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2use elcololp
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
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In the time that it took to post... the EURUSD broke under Thursday's low and now no longer has an inside day.
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Oh well!
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Hmm, your statement didn't last very long :)
+1 Reply
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