Hartle & Flow

The price action dropped below the demand line of the up trend channel, but buyers came in yesterday, and are following through today. I plotted a new uptrend channel. We may get the daily RSI reading to close above 62 and confirm the signal bullish momentum. High RSI readings indicate positive momentum.

The Constant Volume Bar chart is set to 1,000 contracts with the CQG SnapTrader shows the market trading in a range between a support and a resistance zone. The most recent RSI readings strong upside momentum as the RSI is closing above 62. A peak forming below 62 will signal a trading range.

This morning’s snapshot view of the TradeFlow Chart for the EUR/USD has the both studies set to a five-bar running sum with the CQG ChartTrader. Right now, the sell volume line (red) is peaking above the buy volume line (green) of the TFVCrss study, which indicates traders are hitting bids.

The TradeFlow view of the market can change very quickly.

This entry was posted Friday, February 23rd, 2007 at 9:07 am and is filed under TradeFlow, EUR/USD Futures. You can leave a response, or trackback from your own site.