Thanks to @IvanLabrie who is constantly following and trading FOREX who pointed out this chart to me this morning, but it was so clear I felt it was worth showing all of you. The pattern here is as clear as you want to find in a trade setup. @IvanLabrie caught it nicely in his analysis and here it is plain and simple.
#1 - Start the trend at the lowest price on...
I have drawn out a guess for how the EURUSD will advance back to the 1.13-1.14 area.
I draw reactions from clusters of time and where there is low time and draw a progression of about 16 days similar to the number of days at the mode across March through April.
The secondary reason for this chart is today's "Range Expansion Down Day" that started from a "HIGHER...
From my last post in BTCUSD where I highlighted an 11-day rally pattern, the time expired and during that rally a NEW 11-day rally pattern emerged.
At the end of today, May 11, 2015, yet another 11-day pattern will form but will only trigger once another daily range is entirely above current levels. Don't count that until it confirms, but just making you aware...
DAX potential "smack down" from a 5-day time at mode signal ending on Thursday's close and note that the new 5-breakout-failure where a 5-day consolidation failed to lead to a new buy signal could be a sign of exhaustion up here ... A little drop and a sell signal is triggered (and CCI has crossed under +100 for a 4th time in this rally = typical of a bull market...
