EURUSD - Price Structure Study

FX:EURUSD   Euro / U.S. Dollar
303 7 1
Yes, there are definitely a lot of markings on this chart, but they all show that the Euro             is demonstrating a significant amount of structure.

Long-term, price is in an uptrend.
There has been horizontal support and resistance that has been held (as is shown by the blue horizontal lines).
Besides the horizontal lines there is an action-reaction set the seems to be working. The Center-Line catches the price action and the flow, and notice how price fell to the reaction line and has meet with strong buyers.

This reaction line comes in just past the 123.6 Fib off the first leg of the impulsive move down.
More importantly, however, is that there was an energy coil just around the second horizontal line, and looking toward the left, while price moved through this area, it meet with a strong move back up.
This energy coil and its poke through seems like a wash and rinse.

The Median line also has some frequency along the tail, and with its confluence with the reaction line and the poke below the support, I am going to be watching for a trade off of the lower median line parallel. My stops, however, will be below the c-pivot, below all the noise, support, reaction lines, etc. If I am wrong, I should be stopped out quickly, but if I correct, I do not want noise or anything else getting me out.

My target? That's easy. The median line .
Price has now given a test. Putting an entry in for a re-test
The taking out of SWL 1.3671 is a significant violation to the trend isn't it?
I am not sure which line you are referring to by SWL, but if you are referring to the reaction line, price w as rejected at that point and met with significant buyers.
Yabi wuweitrader
SWL refers to the swing low at your forks "A" Pivot,..my apologies for lack of clarity in my question...Thanks
Got it. The stronger support appears to be the lower line. Also frequency is in the upward direction. Whether we are moving lower or not (stepping lower), I think that if the reaction line holds, we can use that as our c-pivot for a move up to its median line. This would still not be out of line with a general stepping lower. Also, with the nice touches on the tail of this median line, it helped tell me that perhaps this is doing a good job of catching frequency as well.
I am watching this slopes, maybe the broken trendline retest is coming
A re-test of that trendline would put it right past the median line. A retest would make it a nice switchback line, at which point it might make me bearish if it holds. Nice chart you linked to, thanks.
+1 Reply
English (UK)
English (IN)
Bahasa Indonesia
Bahasa Melayu
Tiếng Việt
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out