khansalarehsan
Long

History repeated. 78 bars intervals

FX_IDC:EURUSD   Euro / U.S. Dollar
Watch for a return tomorrow.
Dec 27
Comment: It might get to November's High today...
Dec 27
Comment: Moved SL to BE (1.01808)
Dec 28
Comment: Target 1.19618
Dec 28
Comment: Order pending at 1.19623 to go Short
is this trading the range or looking for a bullish channel?
Reply
@Bannoski92, To be honest, I cannot comment on this but I can see this year, the last 3 major Swing Highs have happened after each 78 bars and today we are at the 78th bar which is making the fourth Swing High.

I would expect one of these 2 scenarios:

1. A fake break out and a daily red candle (I would wait for RSI to confirm that the bullish momentum is about to be ended).
This is a good signal for short. Target at least the lower parallel.
2. It is a legitimate break and then it may go up for another 78 candle!
Good luck...

Reply
Bannoski92 khansalarehsan
@khansalarehsan, Nice one mate god luck with this one!
Reply
@Bannoski92, many thanks
Reply
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