EURGBP – Price Is and Will Be the Leading Indicator

14 Mar - EURGBP Daily

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Hi Readers,

This is just a quick update of what I’m looking at. I have been following EURGBP since early Feb and I have been waiting for a short set up off the weekly price channel (see chart). I got really excited at the start of March (see article) when price bounced off the channel.

Unfortunately, price has been making Higher Highs and Higher Lows and there is not Price Action for a short yet… Not until 2 days ago. Price made the first Lower High. If you did not take the short entry, then the next short entry will be a pull back but only if Price makes a Lower Low.

As mentioned in my article on Price Action (read here), I hope you realise how I read Price Action and how Price IS and WILL remain the only Leading Indicator.

Thank you and happy trading!

 

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4 Comments

  • Monica Revill

    Reply Reply March 14, 2013

    Great reminder! I got excited about this one end of Feb / beginning of March as well, but when it continued to move more or less sideways, I kind of ‘forgot’ to look closer! 🙂 Thanks!

    • Alwin Ng

      Alwin Ng

      Reply Reply March 14, 2013

      Hi Monica, I know exactly how you feel. It’s quite annoying when our emotions are “excited”.. haha..

      Anyway, I’ll be keeping a close eye on this one.

  • Kristin Flaen

    Reply Reply May 7, 2013

    Just wanted to say that I really appreciate your e-mails and your generous charing with all of us!!
    Kristin 🙂

    • Alwin Ng

      Alwin Ng

      Reply Reply May 7, 2013

      Hi Kristin,
      My pleasure and thank you for reading. 🙂

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