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MarcinO
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Posts: 5,506
On Friday the Euro hit new high at 1.1470 as expected.
Apart from geometries shown below the structure of the move, let's say on M60, is very similar to patterns that has preceded previous correction recently.
It might be current level that will stop it for some time or 1.1520 after one more move up. If these areas don't hold the next serious level before low 20s is about 1.1750.

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6e 2015 05 17 f png


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6e 2015 05 17 2 f png
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MarcinO
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Nice drop so far in the Euro. It may need some bearish correction after hitting 1.1360.
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MarcinO
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It reversed 10 pips earlier, but also gave an opportunity for a very short term long play.
I think now it is heading towards 1.1310 (EXP ABCD), but I wouldn't be surprised if that level is not enough to send it to new highs in the current uptrend.

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6e 2015 05 18 png
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MarcinO
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The correction in the ES might be done now or it will need a drop to 2100, before going up to 2130.

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es 2015 05 18 2 png



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es 2015 05 18 png
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rat89
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screen shot 2015 05 18 at 1 48 42 pm png
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jimkane
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Nice charts, crew of two.
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jimkane
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27.75-28.25 is the key level I am watching, although anywhere in here it could start the checkback. For the most part, though, on ramp days at new all-time highs my plan would pretty much always be just ride the long until the close (and after on some if the layout suggests it). Why look a gift horse in the mouth?
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jimkane
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I could see a bold trend fighter, a line to line player, someone with a roofer style, hitting this short right here.
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rat89
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screen shot 2015 05 18 at 2 07 42 pm png
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jimkane
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Thanks, rat, that's exactly what I was getting at.
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MarcinO
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Posts: 5,506
Euro looks (almost) done after hitting 1.1310.
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rat89
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they had everyone waiting for that area just overhead where there are half a dozen fibs, but just couldn't get there yesterday. I was surprised by that, and thought they would manage it today. It's very possible it's set up for a gap and go to the downside Tuesday.