For my previous post and context see below:
I'm still short the EURUSD for a deeper retrace. However we see a consolidation that is close to a possible end. This is shown by means of the channel of smaller degree. A bullish break does not automatically mean it will be the start of a new impulse higher yet. I still prefer a deeper correction of the previous swing but I trade what I see.
If we see the bullish break a buy trade will present itself. However only an impulse higher and consolidation of smaller degree will indicate that this correction is over.
http://www.timstuyts.com
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I'm still short the EURUSD for a deeper retrace. However we see a consolidation that is close to a possible end. This is shown by means of the channel of smaller degree. A bullish break does not automatically mean it will be the start of a new impulse higher yet. I still prefer a deeper correction of the previous swing but I trade what I see.
If we see the bullish break a buy trade will present itself. However only an impulse higher and consolidation of smaller degree will indicate that this correction is over.
http://www.timstuyts.com
facebook/timstuyts/
Trade closed: target reached:
long term view will be updated for next trading opportunity.
long term view will be updated for next trading opportunity.
TimStuyts
We didn't see the reversal and price is closing in on the original short target.
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