Looking a bit toppy here what do you think Arco
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Looking a bit toppy here what do you think Arco
Hello Craig
Current action is in blue sky so difficult to say when exactly, but
with Euro looking strong and Cable looking weak, we should soon
see a move following the recent chart posted.
Weekly is printing an mid-candle Harami as of today. Slightly bearish
if it remains that way.
The butterfly may be about ready spread its wings.
arco
i didnt quite follow what you said arco in that if Eur is strong and Gbp is weak why would this cross start to turn down?
However, there is divergence on the Daily this morning, with a new high having been hit last night and yet RSI not (reaching a new high).
Morning Peat
Sorry for the confusion, I should have done a preview before posting.
I worded that the wrong way around.......Euro is looking weak in the short term, and with Cable potentially completing a BF in the next few days it could turn up for a spell in the near future.
I think this may only a short term positioning, but it could increase the chances of Eur.Gbp dipping in the near future to around the .7200 to test old resistance.
Eur.Gbp could then try to venture a little further north. Its into blue sky and the BF is overstretched so nothing much to go on.
No position at the moment
arco
Heres the short term bearish potential I was seeing yesterday re the Euro (its basically the same scenario that I mentioned on The Eur.Usd thread on 1st Jan), and the imminent BF completion on Cable.
http://www.sharetrader.co.nz/showpos...&postcount=555
the C wave gave 100
There's a head and shoulder formation on the 2 hour chart with .7415 as the neakline waiting for a close below
yes thats right craig. well spotted
I'm in ,as per diagram
those tight stops got hit tho....:(
yeah it never quite closed below the neckline so i've stayed away