Let the market tell you – EURO quick look

CLIFF NOTES:

  • follow the black dotted line to see where the major level has been for the Euro.
  • Then, follow the orange line.
  • Additionally, note a nice little cycle coming in at 778 days.  We are off by a week, but that’s OK and – quite frankly – the reason is a little too esoteric for this discussion.  we are still in the time zone for a bounce.
  • Note, from the beginning of the BULL market that started in 2000 we have used the “standard” 1×1, 1×2 and 2×1 angles but the KEY is we have oriented them to the plane of the move up that began the bull market. Follow the bouncing ball and we’ll see that the 2×1 caught the July 2012 move and now we are approaching the .618 retrace and the trend line.
  • Bottom line: EURO bounce coming based on 1) structure, 2) “basic” and “advanced” time cycles, 3) trend line from the beginning of the bull market in 2000 4).618 retracement  5) the 1/8 increment of the signal reversal candle down completes a little lower and 6) we are developing bullish divergence.
  • WAIT to 1) short the upcoming bounce or 2) let the market tell you a bottom is in place and then buy the first pullback that should have a 3 wave structure . (NOTE the only correction so far has been a flat.  by the law of alternation, we will have a triangle or ziz-zag appear.  so WAIT for the bottom…

 

EURO vs USD weekly

EURO vs USD weekly

 

EURO vs USD Daily

EURO vs USD Daily

EURO vs USD 30 minute

EURO vs USD 30 minute

One Comment on “Let the market tell you – EURO quick look

  1. Pingback: Friday September 19th: OPEX, BABA, Alba & Quad Witching

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