This is a late entry. Will post current version next. Well, Euro looks like it wants to push higher...finding support again. Be watchful...don't know when it will turn. Just trade what you see. FX4Newbies
Lots of news coming this morning. Market seems to be marking time. Had some sell off...maybe related to Euro news. Will watch to see how price interacts with pitchfork lines to decide on next possible move. Be careful, FX4Newbies
Hello again, Just posting a chart showing the outcome of the Eur-Usd. Good news pushed the Dollar upward, causing the pair to fall. If it continues to fall, the green U-MLH may be the target...a long overdue swithchback line. Take care, FX4Newbies
Here is a close up of price action with a new, green uptrending "what if" fork added. For new fork traders, observe how price follows the lines. Take care, FX4Newbies
In my last chart post, which I have posted here again, did you see the potential chart pattern, a triangle? Did not shade it in on purpose...just noticed price went there, confirming my earlier thoughts. For all you chart pattern traders, this is how they form...a little of the inside scoop. Somebody is trading using Pitchforks . Hmmm... Be wary of false breakouts. FX4Newbies
Hi 4x, Did you know in Elliott wave patterns a triangle is always the next to last pattern. If it is an ABC pattern, the triangle is always B and if it is a 12345 pattern, the triangle is always 4. Take Care, Dave The expectation, per the Elliott concept, is that price will fall to complete Wave 5, then complete the correction pattern, then fall again forming a new 12345 pattern. We shall see and continue to follow price with pitchforks. FX4Newbies _______________
Good Morning Traders, Price fell out of the triangle, hit WL1 off the blue fork and went north, completing Wave/Pivot 5. Another false breakout. Now we understand why they happen. Updated chart attached. Take care, FX4Newbies
Hello traders, Hope you have had an exciting trading week with all the news . Major US news tomorrow. Attached is a more current chart prior to the Asian Session. Price still officially in an uptrend but making some lower highs and lower lows. Just trade what you see. Take care, FX4Newbies