Here's a trade setup I was thinking for a swing trader. Clearly we have a very bullish momentum in EUR but with such strong moves in the last few days, expect a pullback or at least some consolidation back to the new support level at 1.3285 level as both our CCI and MACD confirms overbought readings before a move upwards towards the 1.3900 61.8 fib level.
Wednesday, September 29, 2010
EUR/USD Long Setup
Here's a trade setup I was thinking for a swing trader. Clearly we have a very bullish momentum in EUR but with such strong moves in the last few days, expect a pullback or at least some consolidation back to the new support level at 1.3285 level as both our CCI and MACD confirms overbought readings before a move upwards towards the 1.3900 61.8 fib level.
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Hey I really like this blog and all of your insight. Are you consisently able to profit daily on scalping the eminis? I have had my troubles and will start applying some of your methods.
ReplyDeleteThank you!