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Short

EUR/USD SHORT and stay SHORT until 1.08686 first downside target

FX_IDC:EURUSD   EURO / US DOLLAR
261 0 5
a year ago
The second this broke 12 day moving average with cross down through 34 day on high of m.a. tunnel set-up and simultaneously through coloured m.a. tunnel set up (EMA 169, hl2), was the short signal. Using Fib expansion from swing high @ 1.17140 to swing low @ 1.10874 to swing high @ 1.14952 gives first downside target to 1.08686 @ 100% fib expansion, If this doesn't hold expect next stop to be 161.8% fib expansion @ 1.04814. This would be the target area to reverse and go LONG for a longer term trade.
a year ago
Trade closed manually: First original target met and exceeded. If you look at the hourly chart idea I published, this downside target became a consolidation zone too before the next leg down. The price then got very, very close to one of my other downside fib expansion targets again seen on my hourly chart at 1.07150 - low on Friday was at 1.07074. On the hourly chart I used different significant swing highs and lows to get overlapping fibs to increase probability of projected range. On the hourly chart you can see the 2 overlapping fibs (you need to scroll down) around the same level - 1.07074, again increasing probability of target projection being met.
EUR/USD - Hourly

You can see more clearly by looking at this set of fibs below in isolation.
snapshot
a year ago
Comment: Oops you can't scroll down on hourly chart unless you visit my home page where I published the idea. It's called 'Helter Skelter.'
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