Hello,
The EUR/USD looks like it's about to close higher than it has shut since early May. Should this happen then will be a new four and a half month high which is where (according to my tests) new highs and lows start to become pretty significant (statistically speaking). Greater highs and lower lows really start to matter around 4 to 6 weeks.
Big and sudden price movements are also statistically significant and the final big bearish weekly candle has been 6 weeks ago, which is probably far enough before not to matter to a lot.
Sentiment can be important and according to OandA's open position ratio, 57.4percent of retail forex traders are brief, which is also a bullish signal.
If anyone is interested in trend after then they may be interested in following this particular thread.
For the sake of the thread, I'm going to trade micro lots within an account I have with GFTUK. I will use a mixture of the first two mechnical trading systems I have on my blog, Strange Curriencies I and Strange Currencies II: http://www.myforexdot.org.uk/Strange...iesSystem.html and http://www.myforexdot.org.uk/StrangeCurrenciesII.html
I'll be using the exit critieria in the initial system, leaving when the market fails to earn a new high for approximately 12 days and I'll add to positions if I start getting into profit suggested in the second system.
Hopefully this will be the start of a long-term motion and certainly will see new yearly highs