Monday 10th December

by Liam 12:19 0 comments

If you ask me, there wasn't much in the way of a VSA entry yesterday. So as is the norm lately, I turned my attention to some more PnF stuff.

Added a new upside target formed from the downside target that was hit on Friday.

EUR/USD 1hr PnF

I had a quick chat with my Dad about the chart and he feels now that the third upside target (pink) wasn't hit and we have had one downside target hit that it may be turning bearish. If we take the long column of Os, fourth from the right edge, this projects a downside target of 1.2480. Technically speaking, the third target in pink is still in play and we have that lower trend line to contend with as well. Definitely interesting to see where we go from here. Either way there are a couple of targets to keep in mind. 

Took no trades last week and haven't taken any so far this week. I'm not too interested in taking the simple buy signals as shown on the right edge of the chart above.

If you look at a daily EU chart, we're in an interesting place with a triple top that has formed with resistance between 1.3162 and 1.3125.

Anyway, those are my musings for the day.