Tuesday, June 10, 2014

Harmonics and price action for the day


I shorted EUR/USD today based on the double top formation in the graph. This indicates that resistance cannot be broken and buyers are not willing to push the price up further. Managed to close a profit of around 25 pips. I wanted to reenter with another short after the false green bars were formed but I was occupied with GBP/USD at that moment and missed another good short entry.


I went in long for NZD/USD based on the bullish rhythm. It stayed pretty much sideways after a 10 pip gain so I closed the trade.

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