Navigating conflicting signals

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Navigating conflicting signals

07-03-2008, 08:47 AM

Lifesong

Senior Member

Join Date: Jan 2008

Posts: 116

Navigating conflicting signals

Hi Neal

Attached please find my 4H chart of EURUSD and what I want to know is the following:

With the latest price action it drop big time since posting todays earlier high just over 1.59 level indicating that bias could have shifted towards bearishness. The concern I have is that on the 4H chart I have an SK @ around 1.5775 and this seems to coincide with the shortterm upsloping trendline. Is this possibly an entry for a shortterm scalp to the upside with a view that the trendline will hold? The reason for my question is that on the one hand the overall trendlines are still pointing upwards, but TRSI shows bearish signals and it's not clear what to trust. I know the safe reaction is to stand aside and await confirmation of which direction to follow, but is this the norm when receiving conflicting signals from the TRSI, SK levels and trendlines?

Thank you in advance for sharing your views.

Happy pipping and keep your great charts coming!!

Attached Images

eurusd(4h@03jul08)).jpg (116.5 KB, 45 views)

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