DayFarrell

EURUSD SHORT BIAS

Short
FX:EURUSD   Euro / U.S. Dollar
HERE IS ANOTHER EXAMPLE OF WHY I CALL THIS PATTERN A STAIR CASE OR STAIRS, WHICH ENDS WITH A U SHAPE.

THE RATIOS ARE: 23.6-38% RETRACE BETWEEN A STRONG MOVE,

THEN A 76 % FIB EXPANSION CONTINUATION OF THE MOVE

WHICH THEN GOES INTO A 38% RETRACE.

AS ALL TECHNICAL ANALYSIS , THERE ARE A BIT MORE MATHS INVOLVE BUT IT'S MOSTLY EXPERIMENTAL. THE TREND ANGLE FOR EXAMPLE IS A GREAT TOOL TO UTILIZE DURING ANALYSIS, IT ASSIST IN PREDICTION WHEN COMPARING TIME PERIOD AND PRICE.

HAPPY NEW YEAR, I WISH FOR EVERYONE A PROSPEROUS 2016!
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