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Daily Signal
- 15 Sep, 2011
#EURUSD Channel Bound?
Looking at the chart I see a nice channel (pretty hard to miss really 🙂 ) So signal for today will be to take notice at 3 places . If we get a nice candlestick and price action fails to break the top line B then maybe grab a short down to the middle of the lower trendlines . However as this channel is up it may be more prudent to wait for a drop to the lower trendlines A to grab a long position back up with a candlestick alert and a failure to break the trendline. If we break to the upside then watch for a sustained break to go long from the top B line. Similarly we could also watch for a break of the lower trend line A and then a failure to break to the upside to get short from there.