Wallace Euro Trades

unfortunately I've no idea what the price is going to do

a down day wouldn't be a bad idea, set up for another good rally next week up thru
the gap and keep going

so if there's downside, possible targets are, 1.3386 area. doubtful, but . . . 1.3358
 
Friday Jan 21 session: 11:40am

many traders know when it comes to gaps the price will, like a small child dressed
in rain gear and wellies crossing a puddle, splish spash and paddle around until they
finally pass thru it and move on

looks like the eurusd may have topped for today and will close in the gap, and then
I believe continue to rally next week. see you then
 
had a busy weekend and way behind on analysis, hope to catch up by tomorrow

Monday Jan 24 session: Sunday 2:40pm

not suprising where the price closed on Friday; fxt popped up to 1.3646 from a low
of 1.3595 , currently back around the gap line - 1.3626

a level fxt aready hit, then 1.3655 and a couple of 'majors' around 1.3757 1.3775
however prior to those is a significant level around 1.3700 that might see the price
stopped at least for this session, possible close on that line. Buy continues
 
Tuesday Jan 25 session: 3:35pm

not sure if the price will come off some more, pop into the gap - splish spash - but
I'm expecting a close up by the end of the session, maybe the price hits 1.3750
anticipated forthcoming higher levels are 1.3800 1.3900
 
Thursday Jan 27 session: 3:40pm

I was hoping the price would have closed down around 1.3630 so this session would
be a rally day following a correction
as it is, with both the the 4H and D having their close just a few pipettes below the
magic level line, this session might be a down day with a toe into the gap, but could
just as easily continue to rally . . .
 
I think it is building a short term top here. If 3573 breaks then look for at least three cents down. We may have a top on both euro and s&p, this is just from the way it acted today.

Just my 2 cents.

MomoNY.

Quote from Wallace:

Wednesday Jan 26 session: 3:35pm

the price got the 1.3700 and looks to be clear of the gap, next target 1.3800+
More...
 
Thursday Jan 27 session: 8:40pm

think I neglected to have stated the 2 levels below the '1.3800' - my apologies

first level is 1.37578 , and today's HH - so far - via Alpari NY was 1.37573 ; the second
level is 1.37752 , and the actual '1.3800' level is 1.37985

currently the price is playing around the 1.37008 level and presuming the price drops
thru it may see the price drop to 1.36556 , although it doesn't Have to go that low
I have a price around 1.3666 - tho not a 'level'; also the '1.37' level does have a fair
amount of up and down s/r
for the price to go lower than the 1.36556 means 1.36342 , gap at 1.36264 and then 1.36218

also any close below 1.36982 will mean the close will result in a down day
 
Friday Jan 28 session: 4:15pm

it's possible the price only drops an additional 10 pips or so, if in fact it's going lower
but there's the 1.37 to consider if the price drops

I keep looking for a down day and it's possible today could be one since it qualifies
based on a couple of tools being used to evaluate such events

will update again before the close
 
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