Inside the Currency Market: EUR/USD

EUR/USD. Bottom. 1.1099. Range break above 1.1167, 1.1246, Below 1.1141, 1.1063. Tight ranges. Overbought sell point 1.1214. Strategy. Longs above 1.1155, Target 1.1214, Failure point 1.1196. Then reverse short to 1.1184 and from 1.1196 reverse to 1.1175. Points on the way up,1.1164, 1.1180, 1.1188, 1.1196, 1.1211, 1.1226.

Shorts below 1.1154, Target 1.1126. Watch here for reversal to 1.1154. Points on the way down, 1.1147, 1.1139, 1.1131, 1.1115, 1.1099 Bottom. Point 1.1126 must cross to go higher to target 1.1154. Bottom holds then long again to 1.1126.

Last 2 long trades failed few pips above entry, we want to monitor points for long failures to reverse short.

Brian Twomey, Inside the Currency Market, btwomey.com

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s