Having had my two last EURUSD charts not work (reiterates why you should make up your own mind),
I kept a close eye on my short trades and chipped out at a small profit, yes I had doubts.
The cup shape (unusual for this pair I think) is approaching an interesting point. The Median Line of a huge long term Mod Schiff pitchfork. The dates of the B/C points are 2011-05-04 / 2012-07-23 respectively. It has delineated some pivots quite well.
The maths of the little xabcd as far as I can see are good (being a big subscriber to Fibonacci I'm determined to get one of these to work), I cant find one that's actually seemed to me conform to the text book.
rounded very slightly X-B + A-C = B-D and the yellow channel lines match up.
If it reaches point D, I hope a bit of tradable bearish 'electric' shock effect. Interesting to see any reaction to touching it. Failing it in itself would be a bearish signal. My personal interpretation of current behaviour ... Currently pushing up off the 1.318 of the down trend ... Good retail figures and constrained by the 0.9318 of the current Mod Schiff ... "it knows it is there, it wants to at least touch it, been a long time"
I kept a close eye on my short trades and chipped out at a small profit, yes I had doubts.
The cup shape (unusual for this pair I think) is approaching an interesting point. The Median Line of a huge long term Mod Schiff pitchfork. The dates of the B/C points are 2011-05-04 / 2012-07-23 respectively. It has delineated some pivots quite well.
The maths of the little xabcd as far as I can see are good (being a big subscriber to Fibonacci I'm determined to get one of these to work), I cant find one that's actually seemed to me conform to the text book.
rounded very slightly X-B + A-C = B-D and the yellow channel lines match up.
If it reaches point D, I hope a bit of tradable bearish 'electric' shock effect. Interesting to see any reaction to touching it. Failing it in itself would be a bearish signal. My personal interpretation of current behaviour ... Currently pushing up off the 1.318 of the down trend ... Good retail figures and constrained by the 0.9318 of the current Mod Schiff ... "it knows it is there, it wants to at least touch it, been a long time"