EURUSD - 240Min Setup - It's in play so who's on board :-)

FX:EURUSD   Euro / U.S. Dollar
86 0 0
Its been a while and I've been lazy so I thought it was time to put an interesting setup on paper :-). Based on the size of correction I should be long now but the technical point short still. Check out the setup based on my trading method. I don't trade the 4 hour setups but they are just as accurate as the ones on lower time-frames. As a leveraged trader the 4 hour setups are too wide my pockets but it provide me with a longer term direction which is my own form of market sentiment if that makes sense.

Take a look at my previous idea for setup details. You'll notice the previous 4 hour setup also points to the 1.0000 levels. There have been many setup in between and on every time frame along the way both long and short. This current setup is a fractal of the larger setup below and has a target to the short side that brings the euro             in parity with dollar. The target is clear and supported in my view based on technical setups only, and as always this is my belief system for trading. It might not happen tomorrow but the momentum boundaries are in place. A break again below 1.6364 should be substantive this time round and interestingly the 1.9868 level provided clear resistance to the move on Thursday which is compelling viewing for me as one must wonder weather this level will hold.

Check out my previous setups, look at the last 4 hour for the behavior of price over the period since. For short term setup look at the 1hour setups and you'll be able to gauge the accuracy of my trade method and setup. My pivot are not historically created so I don't go back nor plot them using previous price levels. All levels are a result of recent price action.

My expectation based on historical setups are 85% ( ish             ) probability of 50% target being hit and 76%( ish             ) of the 100% when a setup is formed.
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