DIBS Chart Book for Week Ended July 15th 2011

The latest chart book with DIBS set ups highlighted is available. This past week featured a volatile breakout at the beginning of the week on the “risk off” theme, which was very good to early week DIBS breakouts. As the week progressed and the risk-off sell offs retraced, the action became choppier and less favourable to DIBS signals.

Enjoy,

FXdibs4pips

 

EURUSD – Inside Bars Waiting to Get Popped on Daily/Weekly?

Looks like EURUSD ended last week with some inside bars. This could be a clue that the EURUSD is storing up energy to stage an attempted volatile breakout. The key levels to watch for the inside bar breakouts are as follows:

·         Daily Chart Inside Bar based on Friday’s range:  Highs 1.4306 / Lows 1.4141

·         Weekly Chart Inside Bar based on last week’s range: Highs 1.4441 / Lows 1.4125

Watch those levels for possible breaks, see if price accelerates through those zones in an attempt to stage a volatile breakout. The scheduled news/data release calendar for this coming week looks relatively quiet, so don’t be surprised if either (a) things are relatively tame and the inside bar breaks lack any momo and price continues to range or (b) the volatile breakout comes from a reaction to some ad-hoc news developments surrounding the Greek-EU debt crisis talks etc.

Good trading

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