EURUSD Gives Text Book Sell Signal
The sell signal EURUSD gave this AM was good enough to be on a postcard. It showed up cleanest on the 15 & 60 minute charts, but this 240 minute gives us a nice snap-shot too — see chart below. We had a shooting star right on 130.00 to cap off the counter-trend move which bubbled up last week following a test of the Dec low.
Markets work best when we are seeing both sides, which means they are facilitating trade. And in my opinion there are no better set-ups than getting an extended counter-trend move up to a long-term down trend line, and then getting a clean signal, which is what we see on the chart below.
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It can’t be stated enough in trading that you have to see both sides of the market!
It also helps to know the why and how of both leading and lagging technical indicators.
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