Yesterday saw lots of action to the upside out of my office hours.
The upward trend remained intact with the immediate term green ema managing to climb back above the short-term red just an hour or so after my session finished and 3 good looking trades could of been had by those of you whom trade around the clock.
I highlight these opportunities with bubbles and then will show more detail of the set-ups on the 1m charts.
Notice on the averages, they are all in correct formation and the green is close to the red in all 3 cases.
These are the areas that will give you the most bang for your buck and the areas which will represent the lowest risk trades, since the red short term ema 'should' support the price.
All 3 trades went 30 ticks or more and although not in a straight line, the Crocodillion would have snapped-up 10-15 from each.
Notice the patterns repeating themselves. A small break of resistance trendline, increasing buyers volume on the MFI, ema's in perfect harmony green,pink,sky-blue,red,blue. Same story every time.
As for today, as you can see on the 15m chart, the immediate short term green is below the short term red.
There's not a lot expected for this morning and personally I cannot see much happening.
Price is likely to drop to the PP at 9.870. To see a southerly cross of red and blue it's going to need to drop much further. They are still fairly well separated.
Only option for now is to put some relaxing music on, have a nice cup of coffee and play the game of patience.
Talk to you later
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