Friday, January 15, 2010

EUR/USD 15 Minute Chart Bullish View


Here is a bullish 15 minute count for the EUR/USD pair. There may be another impulse wave up coming to complete the 5 waves up from 1.4265. A break back below 1.4473 negates this count and puts the focus back on a bearish count.

*** EDIT *** This count has just been invalidated. Stay short on this pair.
Posted by Jared at 12:09 AM
Labels:

4 comments:

  1. protechtorJanuary 15, 2010 at 1:26 AM

    Fib levels start at 1.445. Lower rising trendline support at 1.442 and rises to meet 1.445 later today. These are the areas I am watching for a potential break or support. Showing a potential pattern of 1-2's on the bearish side, but obvious 1-2's are notorious for eventually playing out in the opposite direction. Bearish for now, but cautious. Ideally would like to see a break of lower trendline in an impulsive move to boost confidence of the bearish case.

    ReplyDelete
  2. JaredJanuary 15, 2010 at 2:21 AM

    I can't work out the rising trend line you speak of. What are the contact points for the line? Apart from that I like the way you analyze things. Our methods are very similar.

    ReplyDelete
  3. protechtorJanuary 15, 2010 at 2:53 AM

    Jan 6, Jan 10, Jan 11 for a top ascending line on 30 min chart.

    Only 1 point so far on the lower trendline so far on Jan 8.

    3 points typically signify a solid trend channel line. We don't yet have a lower, so I am expecting a hit and bounce to give us point #2.

    There are slight variations depending on how you draw the top line. The recent dip to 1.444 may have satisfied a hit in one way of drawing it.

    ReplyDelete
  4. protechtorJanuary 15, 2010 at 4:09 AM

    Crossover on 15 min MACD, rising momentum & RSI.

    I can count a small degree rise up from 1.444 as an impulsive wave, and no clear impulsive wave down from 1.452 high.

    Action is very choppy. Will have to wait for things to clear up a bit, but

    ReplyDelete

Subscribe to: Post Comments (Atom)