Triple Top forming in EUR/USD?

Discussion in 'Forex' started by PaulRon, Apr 9, 2008.

  1. PaulRon


    Can anyone add to this? i dont know enough about currenciesw to know if this is a valid indicator
  2. gwac


    The factors we need to form a top...

    ECB needs to stop talking about rising inflation

    MKt needs to be a able to pinpoint when rates are going down in

    FED needs to stop lowering rates.

    zero for 3 so every euro correction is a buying opportunity....

  3. Lucrum


    Technically it would be a chart pattern and not an "indicator".

    As far as the pattern goes it's certainly possible. But the higher low at 1.5500 would make me a little cautious. Also it seems I've heard/read somewhere that triple tops tend to be rare.
  4. not a long enough time frame for a tripple top, more of a consolidation. and ECB isn't going to change course yet
  5. jsmooth


    pull up a Weekly or Monthly chart...still seeing a triple top?
  6. No, it's a triangle with possible upside breakout. Very possible. Next stop at 1.70
  7. I clearly see it on a 4 hour chart and the daily or course.

    I don't trade off charts this size but it sure was a nice intraday short if you were trading at the time the triple top occurred. The 4 hour from a technical standpoint, is looking like a short if we can break the upper TL support.

    I imagine if we crack the .5913 area she's gonna go nice and fast - I'm sure there are a ton of stops above that area.
  8. Bounced right off the upper TL at the .5750 area.

    Oh my!
  9. I don't see a bounce yet.
  10. I take it you're looking at a longer term chart?

    Price hit .5757 area (pivot as well as the upper TL support) and bounced up approx 30pips.

    We've since broken the .5757 support.
    #10     Apr 10, 2008