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Lots Of Trending, More SR Needed

ByPipHut
Published 06/11/2013, 05:31 AM
Updated 07/09/2023, 06:31 AM
EUR/USD
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EUR/JPY
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NWSA
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ACT
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Sometimes not trading is as good as a winning trade - if you keep yourself out of trouble. We stayed flat on all pairs yesterday, as each chart showed a less than compelling setup for us to risk our equity on, and each decision turned out to be correct. Most would have closed immediately for false breaks, but even those small false breaks can add up to sizable losses.

There are still a lot of good trends to trade, and we list aggressive setups for nearly every pair, but for SwingPRO we stay with the trend and, unfortunately, there aren’t many opportunities to swing with the trend today.

Remember: it is better to miss out than to miss your equity!

Yesterday’s EUR/USD Signal Result: We stayed flat yesterday as the price slowly rose through most of the day, rising and failing again under 1.33.

Today’s Signal: If this second rally to 1.33 completely stalls and price dips back below 1.32, then we could be seeing a double top form on the 4h charts, signaling a much larger correction back down to the 1.29 region. Until that occurs - or any bearish action for that matter - we are only looking to get long with the trend on this pair. Without a solid falling resistance to swing off, we will stay flat for the day.

We are tracking an aggressive rising support that hugs the underside of the past few weeks of rallies. Aggressive traders could look to get short on a break of that support. We're staying flat.
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