Monday, May 16, 2011

Potential change of trend occurring on the 5 min 15 min EURUSD

A bit tight, price is entering a price trap on the 5 min as we speak after forming a lower high
I am bullish USD at the mo, variety of factors,

wave counts 5 mins COULD suggest this is a 4 wave down of a 5 wave trend up...
and that is more supported by the MACD stuff...






zooming in a bit more on the 5 min about 15 mins later...

(Writing this up as we speak...)

So, here on the 5 minute we have a great position for this to be bouncing for new highs now, possible 5 wave as mentioned... darn it, using MT4 and just not as good or familar with the pack ge to be able to draw out timespans as well as I can on IG.

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