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22 January 2014 | Free Daily Analysis | EURUSD : PROFITS IN RANGE

DB 2201 M30
DB 2201 Daily

G’day Surfers – no movement but good profits banked again.

Yesterday’s Report

 

There was NO Market to speak of again yesterday but our BEAUTIFUL Forex Trading System spotted an acceleration point and again, we banked the profits. In fact opposing signals presented in consecutive M30 candles but it was the initial first Secret Surfing The Pips Candle pattern that triggered, taking us to target somewhat leisurely, after some time spent in consolidation. We had a small Daily Range of only 52 pips to work with and in a near doji market (9pips open to close), a combined 31 pip haul, is good pickings!

Technical Analysis

 

Pursuant to yesterday’s small range, no technical change apart from Price Action being now perched above an untested Daily Pivot (DP). Pivots insist that the trend is Bearish and intraday charts agreed (lower Hi’s/Lo’s) until yesterday’s new marks. The 1.3450 confluence area remains sharply in focus and my bias is therefore Short. The BIG Bullish Flag (see Daily Chart) isn’t quite ready to launch PA North yet (I believe) so let’s go 1.3450 – let’s go!

The Day Ahead

 

Pretty keen to find a Short entry as Plan A – perhaps a false break of our Resistance Trendline #1 could pave the way?

High Impact News – CET

 

Not today.

Wonderful Wednesday all.

Geoff Pyne  
CERTIFIED TRADER
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