Food4Thought

Food4Thought

The 0.886 level held beautifully on Friday's downside move, as such has potentially completed a larger harmonic BC leg. Current price action can be seen as very similar to the last Euro rally from the 1.1800 - 1.4900 move. Bearing in mind the similarity, I have included a crab pattern to account for any abnormal gains towards exhaustive price levels. The CD leg...

Food4Thought

Long to D based on week ending shorts covering. Flip the trade at the 0.886XA short to lower targets in the 1.2770/80 region for a larger harmonic still playing out. Note: Harmonics do not always reach desired targets so scale out at take profits. More importantly, US data shift could have been enough to initiate excessive dollar buying into covering; meaning the...

Food4Thought

Initiate the second trade as price rises from the 0.886 through the 0.786. Chart explains the trade.

Food4Thought

Breach of 1.2930 suggests failure Breach of 1.2945 confirms

Food4Thought

The setup for this summers trade including an overview of the price action leading to this trade outlined above. Longs can be established between the 0.786AB & 0.886AB levels. Extreme short targets for the smaller harmonic are located just below the 0.886AB level; consequently, stops have been given generous room, and I have placed them appropriately below point...

Food4Thought

The lows have held thus far despite the weak morning data. This pattern looks to be playing out following the previous harmonic reaching a potential reversal target at 1.2935. Should the lows from this morning hold then this pattern has a strong possibility to push towards the marked upside targets.

Food4Thought

Current harmonic potentially unfolding, all target levels line up with current bounces. This pattern reflects a deep retracement to support levels. Considering the rate cut and G7 weekend meetings this move is playing out presumably as funds and players cut longs. The intention will be to re-establish them at deep support levels assuming no negative factors...

Food4Thought

Possible New Year Reversal pattern if commercials and specs choose to re-short the Euro after re-balancing for 2012.