The setups I include on this blog are used in conjunction with the 3/10macd and the criteria I ascribe to it as a way to alert me to an existing condition of price. I day trade the 15-minute time frame by using the 5-minute to trigger the trade setup. I can be contacted via email at toddstrade@gmail.com


Sunday, February 26, 2012

Euro

Euro/USD pair currently pulling back within a down trend.  The steep Fib. retracement of 78.6% has been a typical move of these pullbacks going back to June of last year.

So, a move to the 1.38's wouldn't be unrealistic.  This would fall in line with the higher time-frame's upper trend line

Of noticeable importance is the January lows in the 1.26's.  If these lows remain intact this gives the pair a structural higher low and potential inverted Head & Shoulders on the higher (monthly) time frame.

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