Saturday, January 8, 2011

Second week in January 2011 Overview

There may be further down looking at the large past week candle. Might be shorting it if it breaks, re-test the trendline and also breaking the 0.9850 area.

The previous week candle displays a BUOB but on the Friday candle, it ended up as a not that perfect bearish pinbar. Might be taking a short if it goes does and retest the 83.00 area.

The previous week candle ended up as Bearish Outside Bar (BEOB). It may go further down but will only go short if it passes the 1.2850 area.

Previous week candle was a Bullish Outside Bar (BUOB). There may be possible long if it pierce through the 129.50 - 130.00 area depending on the price action. But may be risky since it is still on a down trend when looking from a zoomed out chart.

Previous week bar looks like an inside bar. It may may north or south but looking at the daily bar, it might go down. Might be shorting if it retest 0.7650 but also depending on the price action. Caution should be taken since it still on an up trend.

*Note: Remember to watch out to not get caught in between of co-related pairs.