MULTIPLE TIME FRAMES MOMENTUM - EURUSD long
A 4 hour bar has just closed, engulfing the previous bar and rejecting 1.2850.
Time to drop down to the 15 minute charts and look for long entries.
Price is hovering just on the wrong side of the 200 EMA, so its advisable wait for a breakout and pullback.
The same set-up looks likely to form on GBPUSD at the close of the next hour.
It has now set up on GBPUSD as well, but the action on both pairs is weak.
ReplyDeleteThe GBPUSD set-up has been invalidated, the low of the 4 hour engulfing bar has been broken.
ReplyDeleteThe EURUSD set-up has also been invalidated in the same way.
ReplyDelete