Buying the hammer - almost a morning star - with small rsi divergence at fib and 4hr support. Small risk about 15/20 pips Wave count implies the possibility of a retest at some point during the next 24 Good Luck !!!
Comments
dojitrader
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Well, the bulls almost tried to bounce.
When they ran they ran the wrong way.
Out on stops for a small loss. Be interesting to
see where support finally bounces. Maybe .8820 ?
kemagnofx
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I hope you re right, but the overall the trend is down :) i m short from 0.8920 . Good luck mate ... tradingview.com/v/ufP3BEp6/
dojitrader
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Yup ! The Daily is very bearish and I'm not looking for anything big
at this point. But, if this is going to bounce it's a logical place to do so
wish a very small risk,
and hammers, depending on the time frame, have a 60-80 %
probability of profit. So, I'm looking for 3 wave bounce, maybe a
retest of the swing high yielding 40-80 pips all contained below
your stop of .8966. Might be a short for trend continuation at
that point as you suggest.
Thanks for your thoughts and wishing you lots of pips in 2014 !
When they ran they ran the wrong way.
Out on stops for a small loss. Be interesting to
see where support finally bounces. Maybe .8820 ?