Will see how this plays out. Short yellow vertical line shows projected pivot area, in advance of price action, per Andrews' method.
Entry price for the sell was given at 1.2840. Price dropped to 1.2818 before turning upward. Lots of positive Euro news. Short target was not hit. More USD news to come. Take care,
An edited comment to this quote: Edit: Did a re-count. P5 completed at L-MLH. Pivot count method to locate future pivot would then be modified.
Hello traders, Just showing how a subtle change in price action could make the world of difference. Price, at blue line (gray box), made a new high meaning that the sellers that were there before may be gone. No sellers means that price is free to go higher if buyers are pushing. Also, price had completed the five pivots down, ending at red L-MLH. An "upward" fork here, drawn in green, captures the market move very well. Notice how price is just sitting on the U-MLH. Earlier signal gave about a 20 pip profitable trade. Price could not fall lower: very bullish sentiment. Hope these details will help to clarify any thoughts on price action today. Take care, FX4Newbies
Hello traders, Price consolidated on the U-MLH for a while, dropped to find support, washed and rinsed a few sellers then took off. False breakout...not surprising. Price could be headed for thicker green U-MLH. Be patient and watchful for your entry. Take care, FX4Newbies
Price ran into some sellers at the WL5. Have to step out. Will see how the market closes when I return.
Hello again, Just posting an updated chart showing where the market closed. Will see how it starts and where it goes. I will officially begin sending signals this coming week. Please visit the blog if you would like to receive them. Until then have a good weekend, and thanks again for stopping by. Take care, FX4Newbies
Hello Traders, EurUsd hit resistance again at WL5. Drew in downward fork. Let price talk to you. Take care, FX4Newbies
Price failed to reach ML of red fork implying that there was a strong bullish sentiment in the market. A good entry would have been the test of the red U-MLH line after the move beyond the red fork. Other areas for entries exist that may be more conservative for some traders: just one mentioned here. Take care, Donna