Our Pivots seldom lie to us and yesterday, their mixed and compact nature suggested not only was the market without direction – it was not going to move very far. That EUR/USD closed less than 40 pips from it’s open, is proof enough. We were looking to trade Long targeting Daily Pivot and found an entry that produced a quick first Take Profit but not a second. Our first trade of the week closing out at Break Even.

Really no change in the 24hrs just passed – Price Action is being supported by a combination of Monthly Pivot and our former Resistance Trendline #1, and trading inside a Rectangular #2  75 pip range. Still no concrete evidence of direction with our Pivots still mixed, reflecting the sideways nature of the market. The crucial level remains our former Resistance Trendline  and until I see a sustainable break underneath it, I’ll remain a little Bullish – just a little.

Without clear direction, AAA setups are paramount today – any signals we get must be traded on their merit so small stakes could well be the order of the day. I fancy the confluence of our nearest Support Trendline #3 with the longer term former Resistance Trendline #1 as the Hotspot of the day – which way we trade it, will depend on Price Action.

Not today

Trust your Tuesday is TERRIFIC.

Our Pivots seldom lie to us and yesterday, their mixed and compact nature suggested not only was the market without direction – it was not going to move very far. That EUR/USD closed less than 40 pips from it’s open, is proof enough. We were looking to trade Long targeting Daily Pivot and found an entry that produced a quick first Take Profit but not a second. Our first trade of the week closing out at Break Even.

Really no change in the 24hrs just passed – Price Action is being supported by a combination of Monthly Pivot and our former Resistance Trendline #1, and trading inside a Rectangular #2  75 pip range. Still no concrete evidence of direction with our Pivots still mixed, reflecting the sideways nature of the market. The crucial level remains our former Resistance Trendline  and until I see a sustainable break underneath it, I’ll remain a little Bullish – just a little.

Without clear direction, AAA setups are paramount today – any signals we get must be traded on their merit so small stakes could well be the order of the day. I fancy the confluence of our nearest Support Trendline #3 with the longer term former Resistance Trendline #1 as the Hotspot of the day – which way we trade it, will depend on Price Action.

Not today

Trust your Tuesday is TERRIFIC.