1.2730 looks like an important resistance level, breaking out of which may probably lead the market to 1.2770-1.2780 (near the upper trend line), with 1.2790 being a buy signal that, taking into account that we seem to be in a downtrend, should be ...

EurAnalysis

Thank you rekon67. A small correction if I may: this is not actually a 1 min chart, but a Point and Figure chart and 1 min at the upper-left hand corner of the screen simply shows the interval used to create the chart, in other words, it is ...

EurAnalysis

1.271 has been finally reached and the price actually parked there for the weekend. This gives us the opportunity to try and establish another downside vertical count which yields 1.263. There is (as usual) a possibility that the price will go up to ...

EurAnalysis

image Sorry, PT, couldn't help myself

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Thank you 100PipsADay. P.S. Looking slightly back on my chart I can also see the magic number 1.275 now. image

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P&F — Amazingly lengthy drop of 210 pips with only a small 30 pips pullback. With the 1.317 count cancelled and the 1.271 one being not that far away now I can only hear a mighty bear roar with a possible short entry at ~ 1.276. image ...

EurAnalysis

P&F — The second target has been successfully achieved as well (1.2840). Looking forward to 1.2810 which would cancel the vertical upside count (1.317) and open up the possibility of reaching 1.271. image Any thoughts would be ...

EurAnalysis

I think you could try some from this page (since I don't use Metatrader to plot P&F charts I can't recommend the best possible solution).

EurAnalysis

Thank you crustonSt. No, I haven't used any indicators yet. If I do and they are more or less useful I'll surely let you know where to get them. Anyway, it's moved up a bit (still inside your white rectangle, by the way) and might be on its way up ...

EurAnalysis

Thank you gino32. That's the Point&Figure chart and I wanted to find out whether my 'prediction' based on it is somehow correlated with those based on conventional charts

EurAnalysis

P&F — I'm currently looking to initiate a short position at 1.2878-1.2880 and planning to take partial profits at approximately 1.2840. SL can be moved to 1.2960 at the most (since the price is below the trend line I'm not really expecting ...

EurAnalysis

The first target has been successfully achieved. image

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Awesome it is, indeed It is called the Point and Figure chart.

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P&F — Now I've got 1.2840 from the first vertical count and 1.2890 from a horizontal one. The second vertical count yields 1.271. image Any thoughts would be appreciated. Thanks.

EurAnalysis

P&F — Here is a new vertical downside count can be established (1.2840), but has yet to be activated at 1.3010, which might be a nice sell signal as well (at the same time breaking the major trend line). The vertical upside count is still ...

EurAnalysis

Thank you PipTrapper for your answer. What are your thoughts about the likelihood that this 'everlasting' number 1.317 will be touched before reaching at least 1.2810? (I know that this sort of questions can't really be answered, but still...) I've ...

EurAnalysis

Hello, PipTrapper! What is the ultimate, so to say, bottom you're waiting for? Thanks.

EurAnalysis

P&F — Touching another trend line(s). image Any thoughts would be appreciated. Thanks.

EURUSD

P&F — This may be another nice sell signal given the break of the trend line. image Any thoughts would be appreciated. Thanks.

EURUSD

P&F — This may be a nice sell signal, albeit rather risky. image Any thoughts would be appreciated. Thanks.

EURUSD