Given the absence of any credible long signals on any of the timeframes down to M15, I'm still looking for shorts.
My line in the sand (LITS) is at 1.0625. I'll only consider longs above that level. ADX is right around the 20 level which is a very nice point for a breakout. DI+ being above DI- suggests the bulls are currently a bit stronger, so I'm expecting price to move up a bit towards my LITS before reversing.
Just a matter of waiting for the short signal...patience. Of course if 1.0625 breaks to the upside (credibly), I'll have to revise my bias.
My line in the sand (LITS) is at 1.0625. I'll only consider longs above that level. ADX is right around the 20 level which is a very nice point for a breakout. DI+ being above DI- suggests the bulls are currently a bit stronger, so I'm expecting price to move up a bit towards my LITS before reversing.
Just a matter of waiting for the short signal...patience. Of course if 1.0625 breaks to the upside (credibly), I'll have to revise my bias.
