Euro Weekly and Daily charts
There was an expectation of lower prices in November, but I didn't expect another Weekly timeframe in October to drop like it did this week.
http://forexspread.blogspot.com/2008/10/eurusd-weekly-18th-october-2008.html
Breakout of October lows and expectation of 50% level rejection pattern to play out next month down into November lows.
Next Week:- Weekly 50% level resistance and expectation of further weakness down into the Weekly lows:- breakout and extend.
Breakout on Friday so there is a view of a push down into Monday's lows (chart Below)
Euro 3-day pattern
As mentioned before:- Best Trades will be short trades around the 3-day filter or the 5-day 50% level.
I also mentioned that trending weekly timeframes and frequency of trading drops because of less rotation.
It started with Monday's 5-day 50% level 'top' and sell, and then for the rest of the week each day continued to break the lows:- break and extend
Only Thursday went close to matching the 50% level once again.
Only 5 trades
4 winners 165 pips
1 loss 10 pips
Monday's report after 11am next week
