Apart from the area posted on Friday (1.13 and below - .886 ABCD) the Euro may also encounter strong support at 1.1240 (1.128 ABCD).
Since the latter scenario includes a backtest, I guess it is more likely to give a significant reaction.

Notice how it dropped right off my area from yesterday, then they bounced it up for a dead on 'retest', then dropped it even further into a DT ABCD. Now we'll see if it's 'up and over' time, or just time to game the TL and down again. Or, on no one's mind, a failed retest of the retest here, and down.

BTW, nice charts, rat.

Okay, after a nice shakeout 'here they come'.

It's difficult to predict anything with respect to the Euro right now, but it looks like ready drop hard.
If it does 1.1190 looks like a descent 'target'.

Just a little aside for the readers here. I prefer the phrase 'area it may go to' or 'area of concern' (AOC), the latter being my preferred term, and the one I teach in mentoring. I don't use target at all, as this implies taking the trade off when it reaches there, instead of taking the trade off when the market says the trade is done. That's why Marcin used quotes there with 'target'. Nonetheless, I think using the term at all with regard to this methodology is probably not a good idea, since those that are newer to it will not grasp the importance of active trailing stops type management for this approach.

Styles like rat's and roofer's use targets, but the KT methodology, as I teach it, not only doesn't use them, they will mess it up very badly (I'm not saying a trader couldn't create a successful plan using them as part of the methodology, only that they are not part of what I have put together, the way I approach things). So, in the interest of clarity, even if it takes more typing and that's a pain in the a$%, I ask that all of us that make posts using the methodology refrain from using target in their descriptions. rat and roofer are exempt because they are doing something different. And that will add to the confusion for newer readers once this post fades into obscurity, but I can only do so much... Sorry for the inconvenience, now back to our regularly scheduled program...

Understood. I will use AOC from now on.

So far it can't hack this area. It could dump, you never know. I can't imagine them not taking it out, but so far, it really fears it.

There's plenty of time, C'mon, take it out. Take it out hard.

The comment wasn't really directed at you, Marcin, I just want to make sure all the new readers (there are a few) understand the importance of the concepts. If I don't bring it up I'll either be asked in an email or mentoring session 'Now, how does this look for a target' or there will be a post (not likely, no one new ever posts any more...) mentioning the target. So, I jumped on the 'teachable moment' here.

Originally posted by MarcinO

Understood. I will use AOC from now on.

This thing is quaking in its boots at this area. Ooh, I'm so scared, it's saying. I can hear it. Do you hear it?...

Mini-session runs for 45 minutes on Friday, and it sets another new all-time high. Gonna be sayin' that a lot...