It´s needless to say that the Euro continues its Bearish trend. But again, while I do my analysis on Saturday during closed markets I clearly see a bottom at dailies. So I ask myself: where I buy it?
But at the same time I´m hammered by the thought: "only amateurs look for tops and bottoms. I should go along the trend...".
But at the same time I´m hammered by the thought: "only amateurs look for tops and bottoms. I should go along the trend...".
With that said I will post my comments and strategies based on what I´m saying:
The Bullish Engulfing on May 19th along with 2 consecutive Bullish days, at exactly the Lower Trendline of a Broadening Wedge Descending, at historical bottom and with all oscillators very oversold, indicates that a bottom might occur.
The Bullish Engulfing on May 19th along with 2 consecutive Bullish days, at exactly the Lower Trendline of a Broadening Wedge Descending, at historical bottom and with all oscillators very oversold, indicates that a bottom might occur.
So my strategy is:
* LONG above 1.2600 / 1.2675. All with a tight 30-STOP and LIMIT 1.2800
* LONG above 1.2600 / 1.2675. All with a tight 30-STOP and LIMIT 1.2800
* SHORT below 1.2520 / 1.2475 / 1.2440. All with a tight 30-pip STOP and LIMIT 1.2330.
If prices broke down 1.2330 and specially if it goes below 1.2230 and 1.2145, then the Bears are still in control. Keep adding lots.
