Take a look at the chart on Weekly and Daily Time frames which confirmed the trade.
Hi traders, I did not post much through out the month and the reason behind is there is no too much activity we have seen inspite of strong Volatile movements. All the Counter-trend moves in Euro has been faded out so many times and strong selling has been seen since last few days and that could be a clue of resuming the trend unless we see strong demand of monthly and weekly time frame I would like to short the rallies and that is been the way it is so far.
The motive behind this post is to let everybody know that Shifting to different time frames does help specially when you shift from Daily to weekly and Monthly time frames. As I have mentioned too many time that risk can never be calculated so trading higher time frames include large stops but that is the way trader has to sort out noise of shorter time frames and when there is lot of movement up and down stops can be hit more often than not.
In the above mentioned chart we have seen that in case of strong trends there are passive areas where buyers have given away control to sellers but they never went on to dominate the process, as buyers step in continuously and buy with even more force and continuous selling was a part of passive behavior when it first test the demand area with strong rejection and then strong bullish bar as confirmation of continuation and price has never stopped after that and though we had to use larger stop as we are trading daily trend but overall all the requirements are fulfilled for trend to give us clue of continuing the trend.
to be continued..........
