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  #1558 (permalink)

Legendary Market Wizard
Berlin, Europe
Trading Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker/Data: Interactive Brokers
Favorite Futures: Keyboard
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Posts: 9,796 since Mar 2010
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Short look at the 6E chart:

Yesterday was a consolidation day, as the Euro tested the territory gained on Wednesday. During the European session it stuck to value, during the US session it moved up to the first resistance area.

Today the pivot range (blue range) is narrow indicating that there is a potential for a large move. However, with the election being scheduled for Sunday, that large move is probably due on Monday, not today. Today's picture is bullish:

this morning the EURUSD tested the area between support and resistance. As the chart shows all potential S/R lines well aligned, so S/R was easy to locate


-> Fibonacci Confluence line (blue)
-> Auction Range
-> 1st Jackson Zone resistance band
-> yesterday's high


-> Fibonacci Confluence line (red)
-> pivot range (ETH)
-> yesterday's VWAP (orange)
-> yesterday's settlement (yellow)

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Last edited by Fat Tails; June 15th, 2012 at 10:02 AM.
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