FX:EURUSD   Euro Fx/U.S. Dollar
516 4 7
THE BIG PICTURE: A major fib level can be seen if you measure segment BC             . The measurement finds a 61% retracement level just above 1.12 which has been slightly breached. There is another level down at the 1.03 zone which can be seen using the fib extension tool and measuring segment AB and projecting from point C
THE TECHNICAL STANPOINT: As long as the 61.8% level holds, then it becomes apparent that accumulation at that level has taken place. A slight overshoot of the level can be expected. Establishing a swing low on the daily chart will help trigger a buy signal. This is in line with the short scenario that is developing in the DXY            
2 years ago
Hi, I've noticed all your charts are monthly.
How do you trade the shorter timeframes?
Andy_Garcia_CMT_CFTe PRO IvanLabrie
2 years ago
Hi IvanLabrie, At the end of the day that is where the rubber meets the road. The backbone revolves around a momentum based approach relying on dynamic support and resistance. Avoiding the complexity is part of my philosophy, but the execution of the shorter time frames essentially relies on trend following principles. Hope that helps
+2 Reply
IvanLabrie Andy_Garcia_CMT_CFTe
2 years ago
Was just curious...I like the concept, and I also try to follow the trends as much as possible.
Andy_Garcia_CMT_CFTe PRO IvanLabrie
2 years ago
thank you for the inquiry, on this end just trying to stick to a cohesive argument that can be utilized by as many as possible all the while allowing ample time for necessary adjustments.
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