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11 March 2014 | Free Daily Analysis | EURUSD : MONDAY MARKET MISS

DB 1103 H4
DB 1103 M30

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.

Geoff Pyne  

CERTIFIED TRADER

 
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