EU 4H + Intraday
EU testing the 200 EMA, which is an important resistance level. Went short around today's high, managed to catch a position after two small losses. Expecting some congestion at 4H 20 EMA, around 1.242, where I'd be considering switching to long (possible a bear trend channel line test and reversal) for a breakout to a higher high. The bull target would be a double top test with Friday's High (1.2494) or the High of This Month on 1 Dec (1.25).
UPDATE: Just had another sell climax on 5M, straight to the TCL, if no strong bull bars emerge here, revising the short exit to 1.241, which is the likely bear measured move target.
EU testing the 200 EMA, which is an important resistance level. Went short around today's high, managed to catch a position after two small losses. Expecting some congestion at 4H 20 EMA, around 1.242, where I'd be considering switching to long (possible a bear trend channel line test and reversal) for a breakout to a higher high. The bull target would be a double top test with Friday's High (1.2494) or the High of This Month on 1 Dec (1.25).
UPDATE: Just had another sell climax on 5M, straight to the TCL, if no strong bull bars emerge here, revising the short exit to 1.241, which is the likely bear measured move target.
"To the busy day / To the idle play"