EURUSD ABCD

Posted on January 2, 2012 by The Ratio Trader

Here is a weekly chart of the eurusd. There is an ABCD at a 1.272 extension, with both trendline, and double bottom support. We are also at the 2.00 extension of May 2011 highs to July 2011 lows which could possibly setup a bearish 5-0 pattern. This trade has a low risk compared to the potential reward. If that double bottom and trendline are broken and eurusd fails to get back above on a retest, we will likely go down to the 1.414 extension next.

EURUSD ABCD

About The Ratio Trader

A full-time trader and student of the markets. My main method, and area of study is harmonic price patterns, and structure analysis.. I've been involved in the markets since 2004. I trade the Stocks, Futures, and Forex markets using the above mentioned method.
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2 Responses to EURUSD ABCD

  1. Stephan says:
    January 24, 2012 at 12:27 pm

    As the bullish AB=CD did not work out as nice as i supposed im now focused on the bigger AB=CD with 1.618 Extension. Theres a multiple Supportarea.
    Daily: http://my.jetscreenshot.com/3270/20120124-c8g4-146kb.jpg
    Weekly: http://my.jetscreenshot.com/3270/20120124-mbfv-86kb.jpg

    Reply
  2. Bear says:
    February 4, 2012 at 4:11 am

    Hey Dave hope all is well.. Have not heard anything from you in a while, I hope all is well. Regards Bear.

    Reply

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