11/30 marked the end of this downwave of the euro, with an island reversal — but an ambiguous candle (by our reading. Others may have been cannier, especially with the volume climax.) Short term trendlines are also broken so short is not the way to be. But we don’t see a long trend signal yet. Unless you want to bet on the reversal day and volume. Most conservative would be to wait for the price to clear recent highs.
- Post author:WHC Bassetti
- Post published:January 4, 2011
- Post category:Letters
- Post comments:1 Comment