dojitrader

If Not 1.3750 Then Where ???

FX:EURUSD   Euro / U.S. Dollar
64 1 0
I'm not really crazy about either of these patterns
But, seems like everyone has got their focus bearing
down on shorting the 1.3750 - 1.3800 area, So, from
a contrarian perspective there's no way it will reverse
until it's gone high enough to take out all those shorts.
Perhaps the .618 fib, if it arrives in 3 waves will be the more
likely point of reversal. I'm really gonna rely on the candlesticks
for help with this one.
Looks like I was only "half right". price easily moved beyond
the 1.3750 area, but, it was in an impulsive 5 waves - not
the a-b-c 3 wave correction I wanted to see. So, I'll wait
to see if we get to the area of the Shark.
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