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  #651 (permalink)

Aurora, Il USA
Trading Experience: Advanced
Platform: TradeStation
Favorite Futures: futures
kbit's Avatar
Posts: 5,895 since Nov 2010
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Eric j View Post
I still see bearish things here . Looks like a nice flag building all week long and price hasnt closed below the PL - YET .

It's getting tough to see where things will go with all this EU turmoil but I'm thinking it will run back to 1.4 before any sustained move to the downside would occur. If it were to drop below the low on 11/3 without hiting 1.4 first I'm thinking trap. That candle pattern from 10/27 to 10/31 has a bearish look to it but stand back and look at the location of it and you can see that it's somewhat would have been nicer if it was a bit higher. I can make a few arguments for going up to 1.4 and a couple for just dropping but am favoring a bit of a up move in the short term at the moment.

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