fire580 wrote:Maybe if you have the time you can tell me what I'm possibly doing wrong - currently the EURUSD has a CTSBias of UT-RR (stage 2) and a CTSEmBias of UT-RR/DT but I see that the emerging pivot lines are forming a UT-RR (stage 3) because it shows the WP will still be above the MP?
EU, cross MA 240, Monday, we got a nice sell signal with H1 TMA Slope CTS between +0.8 and 0 correlated with H4 slope going down BUT pivot said Long bias.
So according to the brand new emerging pivot indicator we can see that we cross the "futur" MP.
MHO opinion on this is:
-as the H1 slope indicate a buy signal a would wait.
-if there is a buy, it would go between WP and yesterday DP (corresponding to level between 0.38 and 0.62 fibo level of the last major downtrend)
-as we are at the end of the month, and as there is a divergence on the D1 slope I don't trust a buy on EU (not High probability trade) The divergence is quite strong with a double top.
-Weekly S/R are far away from each other indicating a ranging period and confirme by the cross of the DP and the WP
so my conclusion are:
-if EU retrace back near 1.308 with a sell signal, I would take down to WS1, that's my n°1 scenario.
-if there is a strong buy (H1 CTS slope signal +H4 slope going up) above the emerging DP I would take it with TP1 on the WP and TP 2 near H4 upper band and the 61 fibo level depending on the signal strength. After take they might be another buy signal going up to retest MR1, but I don't think it would happen this week, so I will recheck this scenario later.
Moreover I'm quite sure there will be more down move before any buy (H1>H4 slope and H4slope going down)
That just my opinion, take it for what it worth. I'm certainly not an expert.
Hope it's help.
Regards,
Fable
