On the chart. Viva europe :-D
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It's black Friday after all
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Nice shoot, a bit weird but fine. I'm happy I did not take any position yet. I'm still on the lookout.
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All higher time frames are showing still very huge confusion in the stochastics. I stay out. The major trend is still down and I have no buy signals here with my trading strategy even if the price may fight up.
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If on the Daily chart we close the day with a green candle and on the 4H chart the actual candle or the next closes above the MA20 the we could see a reversal occur next week.
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But ... the down trend is strong and even if we close above the 4H MA we will have to break above this yellow key line next week to see the price go higher. Otherwise a break down will be seen again with as first TP's the red line's on my chart.
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We've ended like between two legs, isn't that beautiful? Not really, On 4H we are above the MA20 and on the Daily (HA candles) we see a bearish candle. The over analysis of my multiple stochastics strategy do not give an actual entry signal. Technical indications needs confirmations. The price can push higher next week of it may weaken and drop back to the red line's. I suggest to wait until the end of next monday to see what happens before making decisions. Better try to avoid gambling here. On the end of monday I will look it the daily bar is green or red. From there I will watch the 4H chart for my signal to enter long or short. If next monday the price just push higher in a straight line I will stay out even if I missed an opportunity because I do not trade outside of my strategy rules.
