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!
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.