Neutral on Mixed signals

Given the structure of the Dollar index I'm expecting a long trade on the Euro but looking at this chart it looks short. Therefore I'm neutral on this pair until we get a less ambiguous signal. If price goes short from here look for a long set up from the channel bottom but if the "breakout" retraces back into the the structure we may get a continuation (drawing).

At the moment I'm neutral. Let's see what happens this week.

I'll update my ideas as they develop
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This is not investment advice - it is purely for educational and discussion purposes.
Your Ideas, comments and questions welcome

Good luck Steve Nixon

评论:

This is why I was neutral on this pair - DYX looked short for me but the EURO also looked short. As we can see price has pushed down so I'm still not going to call this until I see a long set up

评论:

I expect this to continue long but wait for confirmation (break of alarm line) because price could still come back down from here. The current correction could come a little deeper but so long as it continues to look like a flag I remain long.