Timing is key

EURUSD Action/Reaction Lines call P5 reversal!

FX:EURUSD   Euro / U.S. Dollar
419 2
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

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
Based on expected minimum exit area, 3:1 or better. remember there were 3 opportunities to buy into this trade:)
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