Timing is key

EURUSD Action/Reaction Lines call P5 reversal!

FX:EURUSD   Euro Fx/U.S. Dollar
418 2 4
Hello all,

Let me begin by thanking Fibline for highlighting the big blue downward pitchfork which highlights the importance of counting pivots in median line study. I urge you to look at his chart first as it is a critical first step when looking for P5 reversals. Kudos to you Fibline:)

IDEA 1: After BIG P4 is confirmed Counting the EW abc then the 5 RED Pivots .
IDEA 2: Looking for RED and BLACK P5 after RED P4 confirmed after hitting the upper Parallel and reversing.
IDEA 3: looking to Re-enter on the Retest of the reaction line.
IDEA 4: looking for good Center lines to measure action/reaction.
IDEA 5: A/R Lines where drawn after RED P4 was confirmed....You then had the Target for P5! & the likely EXIT!
IDEA 6: Upward angled Action Lines ( A1 & A2) from TOPS to call BOTTOMS.

I hope you enjoy these idea's, especially how these lines converged to call the P5 Low to the 15 Minute BAR!!



Related Ideas

fibline PRO about EURUSD 1 2 years ago
2 years ago
Interesting. Not a real fan of 30 pip profit trades though. I'd want to see P4 taken out and a higher profit potential. How much would you risk?
Timing is key iTradingForex
2 years ago
Based on expected minimum exit area, 3:1 or better. remember there were 3 opportunities to buy into this trade:)
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out