Friday 13th July

by 13:12 0 comments
Lucky for some! I took a short position on EU, closed the first half at 1:1 and the second half got stopped at BE+1 during that massive up move towards the end of the day.

Two charts below, 15min with the zones I was keeping an eye on and a 5min with one zone marked as well as my no demand entry. 

EUR/USD 15min

A - FOMC bar that I spoke about in my last post.
B - Bar that pushed out of the FOMC zone on high volume.
C - Highest volume on Thursday, i'm not too fond of this as it isn't a stand out bar - by that I mean it's in amongst a lot of noise. But it's interesting how price seems to be supported along the 50% of this bar
D & E - "Odd" Asian volume
F - Highest volume for the day at that point, in the same area as E.

Once F printed and the immediate reaction was for the next bar to reverse I was looking for shorts, we had again failed to break the FOMC low and this time on high(ish) selling volume. We broke the low of the F zone and came back to print a really low volume ND on the 5min chart. The selling on the initial up move is more apparent on the 5min chart with that black volume spike a few bars before the ND.

EUR/USD 5min

I was in the red for a while as it pushed up a little bit, but it never got near my stop so I was happy to hold.

Good week over all and a nice confidence boost. On to the next!

Enjoy your weekend!





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