Daily EUR/CAD candlestick chart. On 17 October the daily candle had a lower shadow which touched the (ex) medium term down trend line. A perfect pull back (to the static support too: a perfect confluence). Today the daily candle has closed higher than the previous candle. The low has been higher too. So the pull back is completed, for my point of view: I’ve decided to open a new long position in the EUR/CAD.
Daily EUR/JPY candlestick chart. On 14 October the EUR/JPY pierced the static support at (about) 135,7 with a (nearly) long bearish candle with the daily close at 135,482. On 14 October the daily candle was an inside bar (aka Engulfing pattern), on 15 October the daily candle was an amazing Hammer with a very long wick (aka Pin Bar). An incredible Inside Bar False Break. The last daily candle was a Spinning Top, with the daily close above the static support. A very complex test of the static support …
Daily EUR/GBP candlestick chart. Last week the EUR/GBP tested the static resistance at (about) 0,7873, without breaking it. This week the currency pair has broken the static resistance (now support) at 0,7873 and has reached the static resistance at (about) 0,8033. The last static resistance has limited the price movement. It doesn’t make any sense to draw the (ex) medium term down trend line: I’ve erased it. Now the market is flat. I’m waiting for a Price Action on the supports.
Daily EUR/JPY candlestick chart. Today I’ve closed the long position in the EUR/JPY that I opened yesterday, because of the daily close under the static support (now resistance). A new loss.
Daily EUR/JPY candlestick chart. On 3 October I stated that I was patiently waiting for the test of the old static support. Now the time has come to test it. For the third time in the last three months. We will see …
Daily EUR/JPY candlestick chart. On 18 September I claimed the EUR/JPY trend inversion. The currency pair is now again in the old downtrend channel, after having pierced the (ex) static support, now static resistance. I’m patiently waiting for the test of the old static support.
Daily EUR/CAD candlestick chart. On 26 September I noticed the static support and the short term down trend line were forming something similar to a descending triangle. The descending triangle and the (three time tested) static support are still intact.
On 19 September I was wondering if the EUR/GBP would be in a flat market. That day the currency pair formed a pin bar (aka hammer), with the daily close above the static support, so the pin bar may have been the beginning of a strong reaction. But there wasn’t any strong reaction. The EUR/GBP has continued to glide over the (ex) medium term down trend line, which has acted as a weird (falling) dynamic support. The static support was pierced on 22 September, now it is a new static resistance. On 25 September the currency pair has reached a new minimum (0,77844). The last daily candle is an inside bar.
It seems that the price movement has bounced on the static support. As consequence, I’ve opened a long position (price=1,4191).
The Happy Trader 