31st October 2008 AUD EURO Daily part 6



Euro 13:55

Euro has taken off on the same pattern...

For those you want to keep an eye on this pattern in the future:- Make sure there is a cross over of the pink and brown with a reverse spiral.

It normally moves away from the pink spiral and move about 30 pips and then comes back to re-test the level before completing the first 41 pip...


More often than not the 2nd r41 pip won't reverse down but continue with:- 3X41

I currently see this reversal, and price could actually drop back down into the pink once again but still holding.

Readded 2nd lot @ 1.2807 exit 1.2842 + 35

Holding open with breakeven stop @ entry 1.2808:- target remains pink to pink