Archive for August, 2010

Channeling Up

So we find ourselves Channeling up against the trend line from early August highs… Which is also the 38.2% (see gray oval) retracement from 1.1877 to 1.3334.  Momentum to the upside seems to be fading, but a breach of the downward trend line would suggest other wise.  If so, I would be looking to short at 1.2875 for 1.2365

Current Fibs in Play

A Look at Momentum Divergence

Of course hindsight is 20/20, but if you strictly took your positions with the use of momentum divergence from this last week, it would have been a nice ‘lil pnl column…

Testing Value Area Low

We are testing today’s Value Area Low. If we make it through convincingly, I will be looking for short entries. If we bounce here, I’ll be watching for an opportunity to scalp a few longs, until I’m more convinced this down move is over.

8.16.10 EUR/USD

Every attempt to extend the range has been rejected.   Above 2780 I will be looking for short term buying opportunities. Looking for reactions at 2820 and 2846 and a break of this downward channel…

Here is where we are currently with notes…

Fib Confluence EUR/USD

Getting Mixed Signals EUR/USD

We have a double bottom on the 38.2% retracement from June lows… We may have a bounce! If we break through could accelerate move to the downside.