Wednesday 14th March

by 18:02 0 comments
I was working at job number 2 this morning so I didn't get a lot of chart time in today. Therefore no trades either.

Here's my take on today's EU 15min action.

EUR/USD 15min

A, B, C and D are all the 15min orange fibs on the chart. A from yesterday, the rest from today.

I had an order set to sell on the low of both of the ND after B but neither of these triggered. My logic was an increased volume up bar into the low of A was showing selling at this level. We had two down bars to prove selling at B, we got a ND and I thought this was a lovely entry, just wasn't to be on either ND.

We pushed up a little further before getting a rejection around the 50% of yesterday's 1hr zone. We printed a No Demandish type bar that I just wasn't quick enough to catch, I was at work so not fully concentrated on the charts. I believe this to be the best entry of the day, whilst a little choppy, the market never came back above the high of this bar. The reason I say it was Ndish is that the low of the bar is a few pips below the low of the previous bar and I'm not too fond of this. I would have been happy to take it, nontheless.

Some buying came in at C, with no entry on the 5min chart for a long but we got a further rejection at the low of the last ND i talked about (also a 4hr low that I talked about in a previous post - black line).

The volume at D is more than likely from pushing down through the lows at C, there wasn't a lot of buying in this bar as subsequent bars are down and the up move we did is a little upthrusty and we couldn't even close above the 50%.

As for the 5min chart, I honestly think that's a mess!



28. Forex. Trading. Music. Beer. Food. Travel.


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