Sell Eur/Usd

[pelle64]

Lets see if 1.5710<>40 can be the reversal point

[pelle64]

I see that eur/usd didnt penetrate 5600 and a daylie stop below can be a reverse signal im out of that trade and will not enter again without a break of that 5600 level!!

So am waiting for a breakout OR a retest that fails

Usd/jpy is between 105.69 res and the upcomming trendline wich can signal a reverse and if the usd/jpy is heading north the eur/usd wery often go south so lets jump of the market, take a drink in the sofa and WAIT

Have a nice weekend all my friend in here

[Speculator]

that's perhaps the better choice pelle.
it's currency options/futures expiration day and those usually mark a fractal on the charts. what's notable is that for years the those dates were the second week of the month and now they changed to the third week. however it seems some computer trading systems and traders that have picked up that relationship keep behaving same way and we see the f/o expiration behavior in both second and third weeks. 5600-50 is the key.

[pelle64]

Thanks Speculator, i hope we can continue to give eachother advice, do u mind to post a chart and Noor post charts if u want u and Iris is the best on this so i realy want to see your charts to learn more....

Pelle

[pelle64]

a constant break of 5552 confirms a short time south reversal am short from now (5580) with only 20 pips s/l and waiting for a south confirmation

A bounse of 5531 an the support line can result of a new high if 5600 breaks

[ist]

If these patterns are to hold we will be looking back at a reversal from 5600.

On the 1hr this implies revising the original hypothesis (smaller green ellipse drawn) and instead we will expect reversal to Z (61,8% of XY) or ZZ (100% of XY). Such revision will also bring consistency between the 15min and 1hr timeframe. ZZ corresponds in time with fractal cycle last months.

IST