rodrigosmarts
Short

EUR Wedge Formation

FX:EURUSD   Euro / U.S. Dollar
623 8 0
EURUSD             has formed an wedge on the intraday charts and, as we approach the end of the week before a very sharp rising movment, I'm looking forward to sell the Euro             , catching the Elliot's correction movement.

To trigger my trade today, I'd expect it to break under the wedge border and the daily pivot , on 1.2883, to sell it. My primary target would be the 1.2800 area where lies this minor chanel border and the broken resistance border of the H4 channel (dashed blue) and further 1.2740 where lies the most important fundamental suport.

If it breaks through the 1.2740 we could see the EUR falling towards the lower H4 channel borders.

Follow this trade on:
http://tradingsmarts.tumblr.com
/rodrigosmarts#
Followed.
Reply
Followed.
Reply
Followed.
Reply
Do you think it will get that low, before the FED speaking today? or rather after that? Because a QE3 decision might send euro to 1.3 or higher.
Reply
I do belive EUR can reach for 30's if FED decides for QE3, but most of the movement is already precified. Only if FED doesn't go for it, or postpone it we'll get this correction.
Reply
Razvan rodrigosmarts
This way is plausible....
Reply
Yeah. If you double check, it's a sell stop order. Price would never trigger without such decision.
Reply
5Loaves2Fishes rodrigosmarts
Agreed. Eur can definately reach 1.3 today.
Reply
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
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder 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