This update shows how the price action reacted at the identified Very aggressive Intraday Long(VAIL), bounced about 110 pips to the next Very Aggressive Intraday Short(VAIS) retraced back to the to the VAIL, reached the VAIS 1st target, bounced to the Aggressive Intraday Short(AIS), reacted to the 1st target where it encountered the next Aggressive Intraday Long which went on to reach it's 1st target at 1.313.
Other intraday shorts and longs are identified but we have not shown the targets as that would clutter the chart to such an extent that it would be indecipherable.
Note the two Inverted patterns, both of which reached their targets. We base no decisions on these patterns but we do mark them on our charts to gauge what other investors/traders will likely be reacting to.
Also note that on the time-frame of the Day chart, eurusd is in a downtrend, though on the 60 minute it is ranging or consolidating. Just a reminder that investors/traders must always know the larger time-frame trend even if they are only trading shorter time-frames.
The Short Term Short has reached the 1st target has been retested and resold. We have re-identified the original 1st target target(lower blue line). A Very Aggressive Intraday Long is in play at this time and if it fails we have identified the Aggressive Intraday Long where more longs will attempt to support price.
Keep in mind that the Aggressive Short Term Short identified on this chart is still being reacted to and that the Short Term short is adding more shorts to the trade. As we stated in our analysis for the original chart , it would be expected that there will be more selling at this short level and that is exactly what has been happening since 9/14.
The Aggressive Intraday Long from 1.28 which reached the 1st target still has not reached the second target(not shown) and most Short Term Swing Traders will be watching the original entry level very closely if it is retested.
We suggest that all interested parties read and study our other published charts to familiarize yourself with our method and to see for yourself how accurate the analysis is. Note that all of our entries are at very high probability reaction levels that maximize profit potential while minimizing risks.