EURUSD Daily Outlook for 12th December, 2013
Daily Chart
- Nothing much changed, but yesterdays price action tried the 1.38 briefly but failed to stay above
Hourly Chart -
"Bearish Bat?" - note this is not an hourly chart, its a 4H
Trading Harmonic Patterns are not my strength, however this one is found on the 4h.
- On the hourly chart, we are in an up trend, however limited by the october highs
- 4H chart spotted a possible bearish bat, however high risk as the we are reaching the patterns maximum points, but pattern still in play (current high could not penetrate oct highs otherwise pattern disregard)
Outlook Trade opportunity
Not an intraday trade, but a medium term trade, Open a short at the current level with price targets around the 1.6280. Stops at or few pips above oct high.Please trade lightly
No comments:
Post a Comment