My SL was hit...

Have to say that the 1H MACD was gradually turning down and I didn't pay enough attention to that. Setting aside until the dust settles down...

Daily MACD is pointing up, and preparing itself to cross over



4H MACD has already crossed over and pointing up sharply



1H MACD is very bullish and above 50% line



Daily QQE is also pointing up and getting prepared to cross over



4H QQE has already crossed the 50 line, and crossed over up



1H QQE is pointing up and is already above 50



The price is already above the 4H Gann HiLo, and if it closes above the daily Gann HiLo at about 208.9sh that will confirm the medium term up trend and will send us to 213.3 at least.



Based on all that, I think that 500 pip up is a reasonable (and even conservative) target over the rest of this week and may be next week...

Just my 2%

It is always good to have a break from FX. I had 10 days off, I feel better after having two hectic months of FX pressure... I feel that I see things better now after having some rest...
anyway, back soon to work...

"Markam" is a respected fundamental analyst in Forex Factory. I'd like to refer you to this post from him...
http://www.forexfactory.com/showpost.php?p=1876232&postcount=64036

we set now at Fib 61.8%, and 4H QQE is at the 50 line trying to cross down. If we pass this level down I see no reason not to hit 210.5... and may be 209.xx before the weekend, let's see. Anyway, if the week closes below the daily Gann HiLo, I'm afraid we'll go short for very long time to come... on the other hand, if it gets rejected up from 209.xx then we may see 213.5 for the 4th time, and if it breaks through then 217... let's see (did I say that before :) )

Wednesday, 27 February 2008

I feel like I want to say: didn't I tell you that 12 hours ago!
Anyway, price is bouncing off the 1hr 200ema right now...

Good morning (or may be...)

It seems that 213 is a very strong psychological barrier to cross either way, we've been there for quite long time... now we have on the daily TF:
1. 50% is a little bit above the 213
2. 50ema is a little above that
Both these lines show very strong resistance... It seems we'll not break them easily before having large scale retracement of 200-300 pips down first.

The QQE on the daily has touched the 50 line, the retracement from here will form the other leg of the triangle, besides, the 4H QQE is close to the overbought area which suggests that we'll go down...

Having said all that, I still see massive up rockets if we have a daily candle close above the 50% fib and the 50ema. If that scenario plays, we'll have a resistance in the 213sh area every 20-30 pips, just like mines field.

I'm out watching for the time being until I see a strong sign of where the market is going...