timwest
Long

EURUSD - Daily - Early Evidence of a bottom forming here

FX:EURUSD   Euro Fx/U.S. Dollar
816 12 7
Note how it has been more than 5-days since the low was formed = 1 reason to be reduce bearish opinion.

Note that the market is above the "lowest high" not only from the decline, but also from the days just since the low was made. (See purple line).

The downtrend has been strong and steady - with all the declines making the target and more.

An outright buy signal is close since there are 6 days at that purple line and the market is currently above that price. The day isn't over, but I'm giving you a heads up early.

The measurement is the low 1.2500 to the mode at 1.2673, .0173, projects a move to 1.2846, which puts the market back into the last mode near the 1.29 level.

Tim

10:55AM EST 10/13/2014
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Great to see come confirmation for what I was working on...
Short term long, getting ready for an even better short entry
Reply
Apple22
2 years ago
I think there will be a retest of low 1.25 -/+ before heading up. I think bears still hungry before resting back to 1.29-/+. don't you agree?
Reply
thanks timwest
Reply
timwest PRO
2 years ago
I just banked 1.2875 - Thank you
+1 Reply
timwest PRO
2 years ago
1.29 was the key level - mode - 12 day mode - exited on that spike to that level.
+1 Reply
IvanLabrie TOP timwest
2 years ago
Brilliant! :D
Reply
Timing is key IvanLabrie
2 years ago
Well done Tim, great call on the Euro ending with the spike on US PPI News. Your chart also validate my analysis and trade on the Aussie.....Thanks
Reply
timwest PRO Timing is key
2 years ago
I re-entered here at 1.2777 and looking for a move later today into the NY close.
+1 Reply
IvanLabrie TOP timwest
2 years ago
And it did move. Managed to get in at a not so bad price, I'll wait till tomorrow's open now.
+1 Reply
timwest PRO IvanLabrie
2 years ago
1.2822 last ... 1.2840 high...
+1 Reply
IvanLabrie TOP timwest
2 years ago
My exit was at .2835 myself. Quick 30 pip run.
Reply
timwest PRO IvanLabrie
2 years ago
Excellent
+1 Reply
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