After profiting from the end of the last daily uptrend from 4/17 to 4/27 (+124 pips), the short has been more than great to me, swing trading daily and riding the downtrend all the way down to currently (1.5786) and now decisions have to be made.
looking at the current end of a downtrend, there was a bearsh signal which was combined with a macd crossover and a moving average crossover, uptrend possibly? check out the daily chart underneath
This chart with fibonacci retracement makes me hope it can't close past 50% for the start of what? a new bullish weeeeek heck yea boy.
So, I jumped the gun, I went ahead and went long at 1.5791 and will be day trading that if this uptrend is true and if this can close with a possible bullish signal not crossing fib or a decent doji possibly.
BTW. my stoploss is bottom of the potential doji, 1.5735, which happens to be the bullish signal i pointed out in the first chart which is literally the same, 1.5732
Last edited by youngerprodigy; 05-18-2012 at 01:30 PM.
breaking this 30 minute resistance should show a good bull run for tomorrow
if today (11pmish when i sleep) can end at 1.5850+ we should see a good run for tomorrow, 1.5865 is a 23.6% resistance for fibonacci so that is a resistance! good time to swing trade or whatever. we'll see.