Wednesday, 2 November 2011

Double tops in EURUSD ( 1min time frame) and Dec Coffee has work to do.

EURUSD make a d-top on the 1974 CL

Coffee Z11 (CFD) Here below in the 1 min chart we are short of the objective (pink CL circled) and being held back by consecutive reaction lines which can clearly be seen to resisting prices upwards direction/trend however we have support from somthing but i am unable/have not the time to find a reaction line so have marked it as a blue thick horizontal line ie... a discretionary trend line...there is something there but what it is i do not know but it seems to work. If price has not broken upward by the close i will flattern my long @ 223.75

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