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RSI negative reversals on both monthly and weekly charts: (point 1 close - point 2 close) subtracted from point 3 close = target; a close above point 1 close negates the signal. The tighter the signal the better; 2-5 bars between points 1 & 2 is optimal, and that's what we see here. RSI 60 level is usually maximum resistance in a bear market - we haven't been...

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Full disclosure: based on monthly charts, I have a bias to the short side... but even on these 3-hour charts, I don't see how I'd want to be getting long at this point. Chart A: 1) oscillator divergence in OB zone, with confirming hook down at the exact high point of the rally 2) price high at confluence of 50% level of X - A swing and 100% projection of A - B...

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The daily close on May 11 created a positive reversal setup on the RSI, targeting 1.13556 (on a closing basis) as the minimum objective. Intraday, that target was reached, but price has not yet managed to close at or above the target. If price fails again to close at or above the target price (even though intraday price highs are attained), I would have to view...

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The wave count may seem odd to many, because it isn't the orthodox version as taught by Prechter. The count presented here is based on the discoveries of Ian Copsey as taught in his "Harmonic Elliott wave". HEW addresses and resolves the problems with the generic version (ever notice those occasional big overlaps in the middle of wave3?). Copsey's discovery is...

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Without attempting to impose my opinion of the likelihood of parity on my trading decisions, I still see plenty of evidence to look for a short trade here. I can't know with certainty whether the year-long downtrend has ended or not, but too many things appear to be lining up at the same time to ignore the clear signs of at least a serious pause in (and more...

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Whether you look at the monthly chart or the 6-hour chart, the same sort of time and price relationships exist; as well as the Andrew's Pitchfork similarity. Monthly: I found four time projections that all fall on last month or the current month, and price has reached a confluence of support levels - note too that price just touched the lower quartile line of the...

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The inset 4-hour chart shows the 1.272 price and time squaring, as well as the 100% symmetry of the initial rally swing projected from the March high. Symmetry alone generally indicates a likely area for a reversal; appearing in the same area as the price and time squaring adds additional confidence to the case for a reversal soon. If there is a likely area for...

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Monthly: I see an end to the almost year-long decline after one more move to support at around parity (see the explanation of the monthly targets at the link to my previous post). The recent low on 3/13 just missed falling to the 127.2% retracement of the last major swing into the all-time high; it's very rare to see price fail to make it to a 127.2% retracement...

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Even though I have projected targets around parity for the EUR/USD, I expect the current rally to continue for at least another day or so. I want to go short after the daily stochastic hooks down from above 75, but that will probably require price to form what could be an Elliott Wave expanded flat. If that scenario develops, I would expect the C-wave rally to end...

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A downtrend is still in force if these patterns continue to form; only a daily close above point X would negate the current pattern. For those who are unfamiliar with Andrew Cardwell's unorthodox interpretations of RSI, these reversal patterns are far more important than common divergences. The highest-probability reversal patterns form within the space of 2-5...

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Signal to sell short based on negative reversal patterns on price/RSI & CFG indicators on 8-hour chart (shaded areas); also, lower time-frame indicators were pushed into overbought territory and have rolled over. If price is within 20 pips of my stop-loss near the end of the N.Y. session, I'll raise it temporarily just to avoid getting hit by the widening...

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For those who have an interest in a possible Elliott Wave count and some out of the ordinary projections in percentage terms: If wave c of Y = 1.414 times the % decline of wave a of Y: 1.01548 If wave Y = 1.272 times the % decline of wave W: 1.00079 Also, the numbers on the chart in the lower right corner were simple external retracements, as follows: Wave b of...