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I think this market is "All Revved Up With No Place To Go," (range bound). In this chart I can see how freely price can move through 1.2500, it did it three times since 2 am. It won't last forever, but I think I'm done.
Also, don't forget the longer term profile, it appears the mighty Euro loves 1.2497 (1.2500).
I am bying 6E on pullbacks for a multi-week and MULTI-MONTH rally {yep; not a typo}.
My trading bias is long and I anticipate impulsive moves to the upside; so, I target better reward to risk on my long entries
Why? My cycle work (extremely accurate on weekly and monthly 'cycles') showed a MONTHLY cycle low for JUNE (right on time) and then, my work showed a WEEKLY (May 28th) cycle low shortly thereafter. My cycle work is showing a June 14th low; so I am buying retraces every single time (even on 60 minute charts--see attachment).
This crazy-ass currency is a buy for at least 3 months (for me and my trading 'swing/campaign' plan).
I will continue to buy more after new highs (on pullbacks after each new high)--mainly on daily and 8 hour and 60 minute charts.
Still busy as I expect CL to go UP now for several dollars for a short-term upmove (2-4 market days for now) and GC to continue to shake out 'week' longs as it continues to advance up on DEEP retraces off the last bottom for targets of 1682 and 1721 basis August Futures.
