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Eurusd 4 hr update 50/50

Discussion in 'Personal Trade Journals' started by kasim ijelu, Mar 28, 2011.

  1. kasim ijelu

    kasim ijelu Private, 1st Class

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    Only a break of 1.4115 the break of the falliong trend line and the abc elwave corrective dwn is taken out can we consider going long
     

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  2. kasim ijelu

    kasim ijelu Private, 1st Class

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    EURUSD Updated

    As pointed out in pervious Eurusd chart only long above 55DMA on the condition that 1.4150 was taken out. during the trade prices continued to buy up and failed as i spotted an hrly Gartley sell( pls check blog or twitter where i post the hrly entries Timeless77 timelesstrading.blogspot.com)
    This signaled to me that this could be a possiable correction of the 1.420 high l thought to myself although there has been a 4hr buy up from the Asian session and early European morning the trend was still bearish, exspecially after the bulls attempted to challenge the dwn trend as they run out of strem at 1.4146.

    I then checked my intraday strength indictors RSi and stochastics as they approached the over brought region and failed. The rally attempt by this session bulls simply was not enough at this time to take out the 1.42 barricade and hit its pervious resistance . So i sold it and Mr Price turned south wards.

    The problems with the portugal and the euro defict is still pending and the US has posted some recent gains. So on that biase i applauded the Gartely sell signal to enter short coupled with possiable elwave abc short.
    Alternatively a break of 1.4028 will need to confirm futher declines we still could be in a possiable 4th wavve up. As i know 4th waves can be very choppy also check usdchf trade

    Thanks for taking the time to Read
    Bless You
     

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    #2 kasim ijelu, Mar 29, 2011
    Last edited: Mar 29, 2011

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