A break of the wedge or some buy signal on a shorter term chart
like a moving average cross, etc. I have not had time to
break it down further. Remember this would not be considered
a counter trend trade since in fell down in 5 waves. It's
likely the bounce will be corrective and somewhat choppy.
Potential target area is shown in yellow on the chart.
Please note that the decline may extend further before a
bounce occurs.
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Steve- what would you use
Euro (FXE) Daily and 60 Minute
Posted by Michael on 12th of Dec 2009 at 08:34 pm
Steve- what would you use as a trigger besides a breakout from the wedge?
A break of the wedge
Posted by steve on 13th of Dec 2009 at 10:41 am
A break of the wedge or some buy signal on a shorter term chart like a moving average cross, etc. I have not had time to break it down further. Remember this would not be considered a counter trend trade since in fell down in 5 waves. It's likely the bounce will be corrective and somewhat choppy. Potential target area is shown in yellow on the chart. Please note that the decline may extend further before a bounce occurs.