As you can see based on daily cycles, an EU retrace is incoming. We have a double cycle ending at the 161.8 FIBO EXTENSION level, paired with a triple cycle. Both cycles ending in a divergence. To drop shorter TF to 4HR, we have a bearish triangle forming, indicating the pressure of a drop inbound.
I Predict that a EURUSD short is incoming, and may be a very significant one.
[/I]The other side? Well, I suppose with today's political climate anything is possible, but the charts never lie! [/I]
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AS I said, in todays political climate anything is possible. thank you, GOP, for crashing your health care bill and sending our dollar soaring lower. this idea is now over, I will NOT BE ENTERING shorts on EURUSD in the near future.
HOWEVER, I am not bullish on this pair to be clear.
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I will not be buying nor selling until the chart reveals its ways and adjusts to its rapid movements
Order cancelled
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AS STATED on my 4hour chart: the triangle convergence break NEVER happened and most divergences continued until failure. BECAUSE of no entry, I took no trade on EURUSD. these cycles are part of a bigger cycle now. I will cancel this idea and wait. No harm (no entry), no lost money. At the end of the day, we avoided losing money, which I will take any day over making money.
@DianKemala, My most recent idea I just published takes EURUSD on a smaller time frame, if you are looking for an entry check it out.
Loopish
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hi, how are you doing,
what cycles are you talking about here in your comments please, thank you
samblum_
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@Loopish, the cycles are drawn In red lines and black. the 3 red lines are a triple cycle, the black being the double cycle.
Loopish
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@samblum_, I appreciate your response. My question was more how do you define the cycle...are you using any time model or any indicator to define your cycle.
again, many thanks for your help
samblum_
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@Loopish, ah, I see. Cycles are all about time and important FIBO levels really. If you look at my other published ideas you may be able to get a better feel for it.
Loopish
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@samblum_, thx bro, I'll have look and be back soon to talk... take care
samblum_
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@Loopish, Yes of course. If you have any questions let me know in messages