EUR.USD H4 Short 13CCI pattern, 13CCI tlb cross<zeroline
S 1.183 or earlier. Took too long to draw/annotate chart
H4 EUR.USD has two CCI short biases.
First, the extended trendlines cross below the CCI zeroline, favoring downmovement. To catch a turn up early, monitor this crossing on lower timeframes.
Second, the CCI pattern is one I call hitchhiker's Short, because it resembles a hand signal with pinkie in the air (which by itsself is an early Short signal, then the rounded knuckles of a fist at a lower CCI level (~~100), then the thumb pointing down as CCI hooks well below zeroline. There is another hitchhiker short i marked in Sept. This pattern can run for many days before a CCI reversal Long is signalled, by CCI's crossing up thru a downtrendline.
We still have a possible H&S target below 1.152, a possible retest of earlier H&S target ~1.176,and new pitchfork targets, one for upsloping pitchork ~~1.177, and one on downsloping pitchfork, ~~1.152 or higher (to 1.164)
H4 EUR.USD has two CCI short biases.
First, the extended trendlines cross below the CCI zeroline, favoring downmovement. To catch a turn up early, monitor this crossing on lower timeframes.
Second, the CCI pattern is one I call hitchhiker's Short, because it resembles a hand signal with pinkie in the air (which by itsself is an early Short signal, then the rounded knuckles of a fist at a lower CCI level (~~100), then the thumb pointing down as CCI hooks well below zeroline. There is another hitchhiker short i marked in Sept. This pattern can run for many days before a CCI reversal Long is signalled, by CCI's crossing up thru a downtrendline.
We still have a possible H&S target below 1.152, a possible retest of earlier H&S target ~1.176,and new pitchfork targets, one for upsloping pitchork ~~1.177, and one on downsloping pitchfork, ~~1.152 or higher (to 1.164)
Comment:
Watch for probable CCI crosses up thru own-trendlines on shorter timeframes if you want to take profit before a retracement up, or wait for the H4 CCI to cross up thru down-tl if you prefer longer trades. (e.g. M5 CCI is close to crossing a down-TL very soon). On H1 chart, pric is between 50sma and 200sma, so is likely to retest the 200sma before much up
Comment:
own=down (above)
Comment:
Pulling some profit at 1.17502 (+78) retest of earlier H&S trgt
No sign of CCI divergnce yet. More down ahead
No sign of CCI divergnce yet. More down ahead
Comment:
By now you are probably in love with the CCI hitchhiker's Short pattern. Price is ~ 1.1655, another +95p.
H4 13CCI still has no diverg, but may be working on one as possible R shoulder of inv. H&S. If trading straight H4, it is fine to stay short until ther is a diver on13 CCI and retest of low, AND 100 CCI is back above -100. One can reverse when 13 CCI crosses up thru down-tl on 13 CCI.
On faster chart, collect interim profits the same way.
H4 13CCI still has no diverg, but may be working on one as possible R shoulder of inv. H&S. If trading straight H4, it is fine to stay short until ther is a diver on13 CCI and retest of low, AND 100 CCI is back above -100. One can reverse when 13 CCI crosses up thru down-tl on 13 CCI.
On faster chart, collect interim profits the same way.