EUR/USD fractal outlook

[robertfo]

Paul,

Thanks for the reply to my inquiry. I am curious from what levels you are short from and what model hour you chose to open this position. TIA

[Paul Koszarny]

Robertfo,

First short at 1.0668, double short at 1.0695 but I have closed them, so there is nothing to follow. I had very little time to trade today. The first short was automatic, the second when I saw the market shortly after 15:00. What do you think about the trend now?

[robertfo]

Paul,

Trend 15m is decidedly UP in my opinion and I see a return to test 1.0667 as positive to this trend. At that level I will be a buyer upon confirmation and if successful will look to add.
On my view I have designated the 9:15gmt H742 as alpha, the 12:00gmt L716 as beta and the 13:15 H726 as delta. The delta H is the milestone price and if taken out suggests further upside potential. Currently as expected the test of 1.07 is in progress.
Your current thoughts are appreciated.

[robertfo]

Paul,

Subsequent to the Blair/Bush dog and pony show, the market may be providing the opportunity I spoke of earlier. Delta H has held and I will be monitoring the situation intently. For me it remains a challenge to " catch a falling knife ".

R

[robertfo]

Paul,

Have established my Long position from these levels with a close watch on. 1.0673. I do not anticipate a return to these levels in the near future. If seen, I will abandon this position post haste.

R

[robertfo]

This position has performed to expectations and I will continue to hold until 17:00GMT unless prevailing market conditions indicate otherwise.
Hope everything is well with you.

R

[robertfo]

The trade I have been posting has now exceeded expectations and due to its age in the time frame traded I am closing at these current levels of 1.0760.

Best to you and have a great weekend.

R

[bigfigure]

The trade I have been posting has now exceeded expectations and due to its age in the time frame traded I am closing at these current levels of 1.0760

Brilliant!