Reverse ‘W’ on Euro
Posted by Cire2222 on Jun 19, 2008
Reverse ‘W’ on Euro?
A couple days ago we completed we we call the ‘W’ formation breakout on the USD/JPY pair. you can see the final chart and post on that here http://tradersbase.com/tb-trade-review/w-formation-with-fibs/index.html Now I see a possible reverse ‘W’ formation in the EUR/USD pair so keep an eye out on this pair. I think the swing low support will be broker if we go test it again.
‘W’ formation with Fibs
Posted by Cire2222 on Jun 12, 2008
days ago I told readers about the ‘W’ formation in the USD/JPY forex pair. That trade has worked out great, I wanted to show you a chart of the formation along with fib extentions to find targets for the trade. In general I will place my orders in front of the target to make sure I get filled. The ‘W’ formation is an easy one to spot. The entry comes after a flag type pullback and breakout, the targets are found by using fib extensions, see the chart below.
