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Friday 8 July 2011

Will KEURO continue bull or bear?

Observed area shaded in yellow (A & B), they're quite identical as 10dMA start to cross 20dMA from below.  Will historical uptrend pattern happened at A occur at B again?
If ADX cross 40 from below it will be super bull, if it cross below 20 from above it will be side way trading.  Besides we need the confirmation from next day trading,if it hit our entry price with high volume (above 1.14M) the bull most likely will continue.
Entry Price: 1.18
TP: 1.22,1.27, 1.35
CL: 1.1
RR:0.5,1.1
Resistance: 1.23, 1.28,1.36
Support: 1.12
Candlestick: Bearish (In an uptrend or within a bounce of a downtrend, a sharp intraday sell-off is followed by a reversal which causes the stock to close at its opening price near the day's high. Although the stock recovers from its intraday sell-off, it suggests the bulls are starting to lose strength, and a reversal may occur. A weak following day on solid volume is still needed to confirm the pattern. )
ADX: Bearish
MACD: Bullish
RSI: Touch 50% Bullish
STO: Above 80%(Oscillator makes it easy to identify overbought and oversold levels. The oscillator ranges from zero to one hundred. No matter how fast a security advances or declines, the Stochastic Oscillator will always fluctuate within this range. Traditional settings use 80 as the overbought threshold and 20 as the oversold threshold. These levels can be adjusted to suit analytical needs and security characteristics. Readings above 80 for the 14-day Stochastic Oscillator would indicate that the underlying security was trading near the top of its 14-day high-low range. Readings below 20 occur when a security is trading at the low end of its high-low range.)

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