Monitoring a potential Lobster XABCD pattern developing on the EURCHF. In heavily oversold territory, but sentiment still favors bears over bulls. Will need to see a definitive break above the downward trendline.
This is how retailers get washed & rinsed.
Expanding Pivots (or Swings in higher TF's), can be a killer for your trading account!
If you got cleaned today, print this picture and put it on your Monitor!
This is one of my most hated and loved patterns.
First it leads to losses...sometimes a couple in a row (...yes, I know, very frustrating).
But then, when I...
So far as OIL is being under 40 $, I dont see much of an upside. I've been waiting for some magical spike on OIL to boost the markets. . If magic happens and we get it to the 40's , then we may start thinking about going into the new highs.
So far as OIL is being under 40 $, I dont see much of an upside. I've been waiting for some magical spike on OIL to boost the markets. . If magic happens and we get it to the 40's , then we may penetrate through 11064 and even 114xx, and start thinking going to the new highs.
Then ofcourse we have ECB that "will do anything to boost the economy" -wildcard....
