EverythingForex
Short

(F) EURUSD: Post-NFP Trade Update: Fractals Predicting A Retrace

FX:EURUSD   Euro / U.S. Dollar
1404 3 29
EURUSD: NFP Did Not Change Overall Outlook & Projections

TRADE: EURUSD             SELL@1.15640 SL@1.17283 TP@1.11210 Risk: 164*4 Reward: 443*4 Trade Ranking: 3.5
Wed. May 4th 7:08 AM: Update #1: Moving SL to B/E
Friday May 6th             8:06AM Update #2: Closing 75% (3 Lots)@1.14210 Leaving 25% (1 Lot) to run with SL@B/E Up-To-Date Profits: 143 *3 lots = +429 pips

The NFP came and went and basically, nothing happened despite the bad employment numbers. Just another example why you just can't trade on fundamentals! However, the chart tells another story. My last post on this pair I suggested that this pair was headed down after following a predicted spike over the resistance zone . If you know about fractals, this move was all already projected to happen as per the fractals.

Here's the previous chart I posted on EURUSD             about my projections and my read on the fractal relationship:

Shortly after I made that post, prices began falling as predicted. When prices spiked up over the previous resistance, that also completed a Bat pattern and reached the MAJOR TL I talked about in my previous post.

The main chart above shows where things stand after the NFP. Prices moved back up during the NFP to retest the previous resistance turned support now turned resistance again. After testing that level, prices were rejected and should now continue the move down.

One clue as to what will happen is going back to the previous touchpoint of that MAJOR TL where there was also another completed bat that resulted in a +552 pip move back down. And the retrace of that move was .618. If prices do move as projected all the way back down to the lower TL, that will also be a .618 retrace.

Want more updates on this pair as it develops? Want to know when is the right time for a buying opportunity? Get REAL-TIME updates and analysis on this and other forex pairs traded. Subscribe here: https://goo.gl/TJggoR

*DISCLAIMER:
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!

If you like my posts and find them helpful, please take a second to hit that LIKE button and follow me so I can know my post was helpful to you. As always, any CONSTRUCTIVE comments are welcome whether AGREE or DISAGREE.

If you desire to receive ALL my analysis on pairs I trade and cover as well as REAL-TIME trade signals, consider joining my private group and my members. You'll get REAL-TIME trade signals and analysis as the trade happens and discussions those trades live. Interested? Go to efxselect.com to subscribe and get these signals in REAL-TIME!

Faceb00k: http://goo.gl/Mb81w7
Website: http://www.efxselect.com to subscribe
Comment: CLOSED TRADE: BAT TP1 Hit. Another successful Pattern trade.....over +300 pips move from trade entry to TP1.
SPECIAL Commodities $39.99/mo http://bit.ly/2AZWhx4
List of my ACTIVE Trades: http://bit.ly/2JkoaR3active
Sign up to mailing list: http://bit.ly/2iNieEY
Facebook Group: https://www.facebook.com/efxselect
Twitter: @andrewefxselect
Website: efxselect.c
Looking to go long this week.
Reply
Yep, I am also. But not yet.
Reply
Need attention for this level. High support + 61.8 fibonacci

Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
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