Euro, taking a dive before the bull rally

FX:EURUSD   Euro Fx/U.S. Dollar
305 4 3
Going short for a few weeks.. I'm hoping for the orange line, as it would allow me to drop my longs from 1.287 without having to hedge. Teal line also possible but really hoping for the orange.. :)

Please note the following:

We are in a down trend lasting at least until July 23rd..to Aug12-13 as a end date

If we bounce now for a 50-61% retracement the end date for this down move will be Aug12-13, if we blow past the 1.28 level the end date for this down move is about July 23rd.

My advice if you are long from 1.287 like myself is hedge for the down move add to long around the 1.251 - 1.247 level.
Hello! What reasons do you have for choosing the time frame, specifically the dates above? Thanks!
99nines sunny
Hey Sunny, time frames are just based on the system I use.. usually very accurate.. for instance i got the turn down time of Jun 19-20 with this last move downward.
-1 Reply
After checking on some new info it looks like the last 1.27 low was a hit on a price/time hit geometric level I was not paying attention to. That said, the new up target should be around 1.366 around Aug 12-13.
-1 Reply
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