So the past couple of days trading the EURUSD long has paid well. There were several 2hr x's, 1hr x's and a 4hr x with the day as it's ROI strengthened telling us TRADE UP! When you compound that with the mkt getting back above the day red river line, that serves as another confirmation that we are to be looking for buys.
The next plan of attack is to see where the mkt winds up over the next day. If it can stay above the red river line on the day chart, we'll still be looking for buys. If however, it resumes the trend which is likely below 3852, then we'll be watching for sells. Some good indicators of points of entries would be see where the mkt is in relation to the red river, watch for ROI x's in that direction and keep your eyes open for the breakouts as they occur.
~FXM
