Just checking in with the web conference crowd from yesterday, and wanted to point out one of the first things I noticed when I sat down at my desk today.
We had a good example of EU using our 3/4 pull discussed in yesterday’s free web conference happen just now. I did say that they are frequent in their occurrence / very common and heavily monitored so I am just putting my chart where my mouth is today.
At this point it already hit so we want to use it as a reference for failure or follow through. Particularly, watch any upwards sloping (demand) trendline underneath for breaks to the downside OR upside, the 3/4 level itself. A “continuation thrust” is not out of the question just yet. Also worth noting that on my standard charts I have perfect usage of 78.6, leaning more towards 76.4 on this one. Either way we have them both, and deviation is only a matter of a couple pips, also discussed.
And one more point: open gaps leading towards highs are within reach. Particularly the one closing circa 1.3415-17 is worth noting, and again right up to the highs. The daily trendline’s (supply line) integrity has already been tested and price has been consolidating around it. Happy hunting everyone.
