I am usually Wrong
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EURUSD in a non trending range. Drawing “Remembered lines” for clues
Looking at the hourly chart in the EURUSD, the price is in a non trending period. The price started a correction move higher on Monday, the price moved above the 100 hour MA (blue line in chart above) and trendline resistance on Tuesday. However, over the last few days the price has first tested the 200 hour MA (green line in the chart above), and then above that line, but the momentum higher has since stalled. The stall has flattened the 100 hour MA line (blue line) and the 200 hour MA line is also starting to lose it’s slope. Both are indicative of a non trending market that is unsure of next move. The ... (full story)
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- May 19, 2011 6:21pm May 19, 2011 6:21pm
- craptrader
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- May 19, 2011 10:35pm May 19, 2011 10:35pm
- bdsilvano
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- May 20, 2011 2:33am May 20, 2011 2:33am
- BackTestDummy
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