24 December 2010 - My market reading : Long EUR/USD
The appearance of Bullish Engulfing triggering an interest of buying. Although it is seen not a proper signal, it is still fall in the rules of Bullish Engulfing. Second candle is white. Opening price of the second candle is lower than closing price of the first. The closing price for the second candle is higher than the first candle. This signal occurs after a downtrend and on the Bollinger Band bottom line. The third candle which closes higher than the second candle and higher than Simple MA, triggers a buy for me.
On first long signal of parabolic SAR, Macd shows three ascending bar and W%R value shows -48.
Market might be thin as it is nearing the Christmas, I expect for 100 pips for this trade.
Time : 09:49 a.m.
Enter Long : 1.3126
