Iris, XT thanks for your comments. I’ll certainly put you guys in my resume for recommendations…
I enjoy many of your posts too
Yesterday, the 3246 was very precise and managed to hold this EUR madness for several hours before it was point-blank shot in the head.
Respectively, 3308 did the hard work but it was carefully camouflaged in a 23 pip overshoot that made me manually close my wrongly timed 3304 short (with never reached 3336 stop) at the very (3331) top. Going back to the PC 2 hours later I wanted to kick my a…
I know… My emotions are my weakest link but there’s not much I can do there.
Ok, enough crying. Let’s work on the future.
In September I have posted in this tread a theory and a chart that I’ve been working on since May this year.
(It could be found here:
Link Here... )
Although I stated that if red curve is broken EUR most likely will fail chasing it on the outside, we may as well have the case where EUR successfully cached up on the curve or my chart needs a better tune up.(I’ll try to redraw the chart and posted later)
I still feel pretty positive about the theory in that post as it’s been confirmed by many of my non-curve studies, time price squaring and resent EUR actions. However the timing there says 12 weeks which I may need to eventually revise but it all depends on what the chart will say.
So, if there’re no major surprise for the EUR$ for the rest of the year, I think that the mentioned there 1.3930 level will be reached around New Year’s Eve… which is 5 weeks from now.(we may check with the time square table for possible dates)
It seems we are now in a phase of dropping all of the trend followers before we go to higher heights. It’s been 10 consecutive up weeks from 13 total since the beginning of this trend. I remember reading somewhere that it’s almost rule that after 10 consecutive ones a correction is due… so it might very well be exactly what we are having right now.
Regarding the most near future I think that EUR very badly needs a major fractal around the 1.3100-15 level. So watch out for sharp move there before a continuation of the trend.
In time square table Nov 28 (which actually turned out to be Sunday in US and not Saturday as I previously thought) shows as a due date for a new high (or perhaps low…( Iris, I’m not sure if that’s what you’ve been explaining in your post?)).
Whatever the event, there are 2 possible scenarios for the next week if a 1.31 fractal is to be made. Closing the week near its current top and making a 1.31 low in the next one, or closing this one near 1.31 and going up the next one. First one seems most reasonable. Or there's another - simply just going up without a fractal…
We’ll see tomorrow.