Timing is key

EURUSD Long Term Idea: Breach of Sliding Parrallel!

FX:EURUSD   Euro / U.S. Dollar
1010 14
Hello all,

Looking at some long term technical signals that is supporting a weaker EURO

OUTLOOK: Lower Prices

Idea Supported by the following technical observations

Major Pitchfork: Headed to the Black ML from P2 (1 July 2008)

Green Upward Pitchfork: Breach of Lower MLH and now Sliding Parallel constitutes a price failure, Therefore counter move should be greater than the move up, towards the ML ( See both downward targets )

Grey downward pitchfork: Supporting our expectation of prices falling to the latest ML ( See FIB targets 0.272 & 0.618 ) and finally to the MAJOR pitchfork ML
Supporting Major Top 1.39924 (May 2014)

Time Resistance
Previous Upward Range Took 11 Months. 200% of 11 Months is 22 Months ( Ends MAY 2014)

Price Resistance
Current upward range is 63.7% of previous upward range and 67.30% of previous downward range, thus they are in a Pivot Zone between 61.8% and 78.6%.


Timing Is Key

Hello all, Downward purple median line reached & the 0.272 fib extention. We have already seen a ( bounce ) here question is how much of a retracement before heading down to lower prices.
+1 Reply
1.480 by late aug/sept... be advised at to where that hits on this fork..
Not at all Hamza & good pickup!

When this chart was done, I drew the smaller forks first & then quickly drew the big one, actually, you can use previous ( Handle ) pivots & Dr Andrew's actually taught a specific distant pivot method to isolate P5's. But in this case my original handle lacked good hits. Your handle is a good fit as it shows a possible retest of an upper parallel line.

I've changed the Handle on the chart below to the most recent Top based on a LARGER perspective & it is quite amazing as it is validating my view that the Euro is headed lower. It is also respecting the 1/4 & 1/8 divisions which is in line with my recent post using a standard Horizontal range retracement from Handles 2 & 3 from your example above.

Thanks guys for your valued comments!



Timing is key Timing is key
Sorry, Every Turn was hit most on the 1/4 & one on the 1/8 retracement


Timing is key Timing is key
I must me tired today:) two on the 1/4, two on the 1/8 & of course the ML. The last has not been confirmed yet!
HamzaLeith Timing is key
This looks very valid to me TIK, great piece of work, since your slope is much older there is a high probability it will be respected!. I will throw in some EW and add a pitchfork to the RSI and let you know. Btw you suggested using median lines on RSI...The results are AMAZING. And the beautiful thing is, that RSI is way ahead of price action which makes it a very powerful approach for forecasting!
HamzaLeith HamzaLeith
Timing is key HamzaLeith
Anytime , glad to contribute ideas. Just remember, play around with settings on RSI to see which number (s) are proving consistent on the major turns. Once you find the setting it should be good to go for the life of the pair.

+1 Reply
HamzaLeith Timing is key
Here is it with RSI
HamzaLeith 99nines
The only way that is going to happen 99nines is if some big event takes place effecting the US economy negatively. Maybe the war in Iraq?. From a TA perspective this baby is going down!
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
HE עברית
Home Stock Screener Forex Screener Crypto Screener 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