Okay let's pick up where we left off yesterday we were looking at yesterday which was the 0th of August this is 2009 we're looking at the hourly euro dollar US dollar chart looking at the movement down here hourly bars a spinning top and then a big move down followed by another big move up simulating looking like railroad tracks not exactly equal in size here but perhaps signifying the end of this downward move as.
I said signifying not absolute not many absolutes in trading except 3 the market will go up the market will go down and you know the other one the market will go sideways right now what I'm going to do is I'm going to grab us a little line here so hold one moment here alright here's our little line we're putting right down here we're looking to go long at some point or and we were thinking right up in this area and I'm placing this below which we would have a stop so let's grab another horizontal line.
And place it at an entry point of peak and that of course is yesterday's entry point let's just put it right through here so we can see that real clearly yeah looks good so let's scroll on over that's yesterday and then here we start to move into the after-hours types of traits for the American market anyway and down here is still holding and meandering around here this particular line and not too much going on we do have some upside movement but basically that's that again when a market session closes it can it can get pretty quiet we move over to another session you can see down here we move up that's in the morning.
And here the down here or stock would be the prices are still holding and look at this interesting patterns here we've got three wicks that pierced this one point four one two zero zero area but they all closed above it which is a good sign for upward movement okay so we're looking along here and here we currently are today at this particular point in time it's now 3:05 p.m. it's East if sorry that's Central Standard Time and 405 Eastern Standard Time and we're still above here and we still got room to go to the stop down here so again we can see what happens I'm going to pull this in.
And let's compress this chart a little bit to get a little bit more perspective and may what we may have setting up here is a something along the lines of a trading range and between this particular point and this point down here which is a pretty wide range actually all right well let's assume that we were still long and not in profit by much that's how the cookie crumbles sometimes but say we're still not stopped out down below this particular point here thanks for reading.