This Elliott Wave blog is dedicated to sharing Fibonacci ratios and other technical analysis for forex signals, index futures signals, options signals, and stock signals. Elliott Wave Principle puts forth that people move in predictive patterns, called waves. Identify the wave counts, and you can predict the market.
Wednesday, October 14, 2009
EUR/USD Bearish Reversal Candle Confirmed on Hourly Charts; October 14, 2009
With the turn of the hour the EUR/USD chart made a nice bearish reversal candlestick giving the bears a great short opportunity for the short term with a stop just above 1.4943. Profit levels will be determined later as we see if the bearish reversal candle carries over to the larger time frames, especially the 4hr and daily charts.
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