EURUSD - Doji again in daily range, some interesting on weekly
We did not have anything new today. Again, a non trending, tricky day, so far with a regular doji candleon the daily chart.
As I wrote in my post yesterday (please see link below), there is still no direction, it is not trending at moment, the triangle is very tight, so it will have to break soon. I also checked ADX, which is around 15 (super low level - no trend). So, the point is, it is impossible to make money on a non trending market, since it is gambling, not trading or investing! Why? Because the odds are just random and defenately not in your favour! So leave it alone, until it shows its true face!
I wonder how many people got tricked by EURUSD today in this appr. 1,0960 - 1,1060 range???
However I see few interesting things on the weekly:
- Tenkan and Kijun are almost at same level, which means if Price can not break lower this or next week (below the rectangle) then we may have a weak Bullish Tenkan/Kijun soon.
- This week's closing will be extremely important, as so far the candle looks like one with an inside body, and with no lower low! Still 3 more days to go until we can give prognosis for the weekly Heikin Ashi candle close and for next week candle's possible relative opening!
- haDelta/SMA3 has still a bullish divergence. Will it cross back above zero line, or will it break down? We'll have more idea about this issue closer to this week end.
So what do I recommend? PATIENCE! For now the chances are 50-50.
As I wrote in my post yesterday (please see link below), there is still no direction, it is not trending at moment, the triangle is very tight, so it will have to break soon. I also checked ADX, which is around 15 (super low level - no trend). So, the point is, it is impossible to make money on a non trending market, since it is gambling, not trading or investing! Why? Because the odds are just random and defenately not in your favour! So leave it alone, until it shows its true face!
I wonder how many people got tricked by EURUSD today in this appr. 1,0960 - 1,1060 range???
However I see few interesting things on the weekly:
- Tenkan and Kijun are almost at same level, which means if Price can not break lower this or next week (below the rectangle) then we may have a weak Bullish Tenkan/Kijun soon.
- This week's closing will be extremely important, as so far the candle looks like one with an inside body, and with no lower low! Still 3 more days to go until we can give prognosis for the weekly Heikin Ashi candle close and for next week candle's possible relative opening!
- haDelta/SMA3 has still a bullish divergence. Will it cross back above zero line, or will it break down? We'll have more idea about this issue closer to this week end.
So what do I recommend? PATIENCE! For now the chances are 50-50.
