Monday, February 20, 2012

**Chart Update** Euro Channel Analysis Update

EUR/USD Daily Chart

If you guys actually follow my hard work that I put into my analysis, maybe you would make some extra cash paying attention. Late in the week we saw the Euro breaking the key level of 1.30. As I have shown before in a previous post the euro broke out of a trading range(highlighted in yellow), but then fell back inside of it, thus creating a bull trap. It then traded all the way to the bottom of the range as if it was going to break through and hold below the 1.30 level. Knowing that we had some decent support down there, I stated be sure to watch out for a possible reversal in the Euro from this sell off that looks as if its going to tank the Euro. We did exactly what I expected and reversed to the upside to close as a hammer. Remember, that was Thursday when the market was down because of the Euro weakness and dollar strength. Well all that reversed and crushed the market participants that were short the index's. We then continued with some bullish action on Friday and now here Monday the Euro is back on the bull side of things and has some bears trapped. Anybody short the Euro is about to get there face ripped off if we take out that pivot high and trigger more buyers and people that are short to cover.

Now I could careless for a good job pat on the back and all that extra shiet. I just want to provide analysis so that the people that actually take the time to follow my work can make money with me. As I do my analysis today I will continue to bring only relevant helpful information to the table. None of that BS that you see on some other blogs that is called relevant information. You see here my friend, I #ChannelGuyTrader is not one of your regular boring technician that sees the same patterns that all the other eye balls see. I see things in charts that even your grandma with those thick coke bottle glasses can't even see. Enjoy the day off and be sure to check out TheTradersRoom.Com/ Password: Remote to see how we trade the open on Tuesday. Any traders looking to trade with a firm, but can't because they are not smart enough to pass the series 56, contact me and MAYBE I can help you out. Cheers

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