intcust » Wed Aug 27, 2014 11:03 pm wrote:eur gbp I took it down and got nice trade. I agree with your chart on quick glance but I would need to study more for trade. Aud Usd I think has more up left in it but then again I am long eu so maybe I have rose colored glasses. Nice posts I think it is important to plot out what you think then see if it works. On the Aud Usd I think we are on the second phase up on small time frames. I think on e u we are on a retrace on 4 hour and I hope to get some. I think then both will go down . Look at EJ it is a little harder to see but it is there.
incust
I would not trade short EG, I would rather wait until it form a second leg of W.
For AU I'm not really sure now. It's forming small W formation with trapping volume. For now I qualify it as sideways because it didn't make a higher high. W formation seems to me weaker than M formation because of small pinbars. I would wait with entering it, especially in front of first high impact economic ,,news" coming in 2 hour and next in 13 hours.
AUDUSDM15.png
EU short is not really a thing I would go now. EU lost 500 pips without retrace and I expect it in near time. Price seems to consolidate with one widening down. We can have SHS formation or W formation but it doesn't seem like simple retrace.
EJ for me will go up in a short term.
EURJPYH1.png
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