EUR.USD approaching an Important Support zone, EU do-or-die here
Quick plot to show a very important Zone being approached.
Dark Blue fib series has defined the entire move since $1.100 bounce.
Confluence of this fib with higher tf fibs focuses the zones of interest.
Green zone at the 5.618 is obvious to most, but the fibs define it exactly.
Previous EUR.USD analysis (click):
1.109 Short Call
1.102 Bounce Call
1.125 Short call (still in play)
1.119 Bounce Plot (better than expected)
1.131 Short call (pin point accurate)
1.118 Long call (scalp that ran hard)
1.240 Short call (the very tip-top a year ago)
Of course, I have had total FAILS on some plots also, not going to pretend.
But my plans offer PRECISE entries, TIGHT stops, and EXACT take profits.
Precision is the way of the Fib. Almost every turn happens at a Fib Line.
.
Dark Blue fib series has defined the entire move since $1.100 bounce.
Confluence of this fib with higher tf fibs focuses the zones of interest.
Green zone at the 5.618 is obvious to most, but the fibs define it exactly.
Previous EUR.USD analysis (click):
1.109 Short Call
1.102 Bounce Call
1.125 Short call (still in play)
1.119 Bounce Plot (better than expected)
1.131 Short call (pin point accurate)
1.118 Long call (scalp that ran hard)
1.240 Short call (the very tip-top a year ago)
Of course, I have had total FAILS on some plots also, not going to pretend.
But my plans offer PRECISE entries, TIGHT stops, and EXACT take profits.
Precision is the way of the Fib. Almost every turn happens at a Fib Line.
.
Comment:
Bounce Failed.
As mention last, that bounce looked Corrective more than Impulsive, and now the proof
Fell straight through the Support.
Zoom IN (1 min) and Fib on the drop just now
the 4.236 lines up with existing support zone, which I have adjusted now to make that fib the lower bound. Lets see if it holds.
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As mention last, that bounce looked Corrective more than Impulsive, and now the proof
Zoom IN (1 min) and Fib on the drop just now
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the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
the Trading View is my Nation
the Moderator Tag is my Flag
Got a nice bounce EXACTLY off the top bound of support zone
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Zoom IN (5min) for a closer look at the bounce:
ie: this bounce may have a little more room to go up.
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Zoom IN more (1min) and attempting a fib on the bounce
The lack of a clear Fib-Rhythm implies this just a CORRECTIVE bounce (bears taking profit?) rather than IMPULSIVE (bulls getting in).
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In SUMMARY:
- the Perfect bounce further solidifies our confidence in the fibs, Dark Blue series in particular.
- thus far the bounce looks corrective so lower lows (below 1.1107) are still possible and almost likely.
- Monitor this bounce for possible impulsive behavior, and will try to find a target for this bounce.
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