EURUSD...Last week + projections!We finally broke out of that consolidation zone, and JUST when it started looked like the Euro was going to start free-falling...my stochastic started giving me strong buy signals...Right at the end of the week too, which sucked because the best entries to this upturn we've seen this past week came on Thursday and Friday 🤬....
Luckily, by Monday, the r-squared value of the low pivot trend line (see chart) had hit above .7 suggesting a very strong correlation between the low pivot line and the down fractal values (price reversal); easy entry (1.25 ATR stoploss). The best exit came Tuesday night EST, right before the London session. I got out when my both stochastic values dropped below 20. The next two buy signals came after price crossed the low pivot line once again which by now had a .89 r-squared correlation. Price traveled all the way up to it's current peak, which was confirmed with an up fractal two bars later on the 1hr chart. At this point both pivot lines have r-squared values over .85, and they run pretty much parallel to one another, suggesting that price has formed a very strong upward channel, and that price is most likely headed back down to the low pivot line, we'll see!
