G’day Surfers, good setup – bad result.
Yesterday’s Report
We say it all the time – “Trade what you see – not what you think” and it has paid us innumerable times. Yesterday was NOT one of them as we Traded a beautiful Surfing The Pips Secret Candle Pattern, at a Hotspot…….and lost! The only element missing in the setup, was a tested DP. We can’t blame that on the loss however, because it remained untested in a Doji day that ranged only 36pips – No Market, No Money!
Technical Analysis
With absolutely nothing happening yesterday, the only change technically, is that DP has been ‘default’ tested. In other words, DP has come to PA, rather than the reverse. EUR/USD remains very Bullish. Still no re-test of the now broken long term Resistance Trendline however and an ‘under construction’ descending triangle, suggest that Long may not be the first movement today.
The Day Ahead
EUR/USD hasn’t seen action at 1.4000 for 28 mths – I’m thinking it’s time! Long, with one eye the retest possibility below.
High Impact News
| 3:00pm | USD | JOLTS Job Openings |
Terrific Tuesday everyone.
CERTIFIED TRADER
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