Oh Hindsight for Foresight

It is now obvious that the 120pips should have been taken when it was given. The second entry was stopped out at +5pips while the first is rolling a loss.

The current action is pointing at the 100% mark. If that is to be, the first position will stop out for a loss on the way to the projection point. A new entry is set for $1.4383 with the full target marking at $1.4393, so a 10pip cushion. If price should fail to reach that point and instead breakdown, an entry on a break of $1.4040 is the mark. The downside target has not been changed.

What has changed for the betterment is that now an oscillator divergence will likely enter the picture, which makes for a much cleaner turning point. This also fits much better with the view on the S&P500 turning point of 1390±6 points.

Time to sit back and see what cooks in the pot. Soup or slop? Won’t be long till we find out.

Click to enlarge:
EUR/USD chart

Previous chart set up
Previous entry and trajectory estimate

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