actually 1.28 doesn't matter, I think EU will have more up.
It might play out like this I posted a while ago. I went short EU yesterday for swing, got stop out.
I made a mistake on daily view. Anyway, in hourly chart, bigger range and smaller range both show that it broke out trend channel and went for higher low.
If so, we should have 2 leg rallies. The first one is done, we are in pullback. The only thing I don't like is a little long upper wick in daily chart.
Overall EU is choppy.
I made a mistake on daily view. Anyway, in hourly chart, bigger range and smaller ...
ppteam 发表于 2010-9-1 16:25
"broke out trend channel and went for higher low. If so, we should have 2 leg rallies. "
what do you mean above? Do you mean that if we broke a trend channel, then normally we would have 2 leg movement? do this apply to down channel and also up channel? for both break above and break down?
good luck. If you are in north America, the time is not the best at all.
Since I use 60mins chart as minimum, most of my trades are overnight trades, so I trade a lot smaller than my DT ES.
"broke out trend channel and went for higher low. If so, we should have 2 leg rallies. "
what ...
Poo 发表于 2010-9-1 02:32 PM
Take down trend channel as example, after breaking out the channel and forming a lower low, when market reverses, normally 2 legs up is followed. If forming higher low or double bottom, at least one more up leg is left.
Hope it helps.