Euro Fake Out Trade Update

Happy Monday to all.

This is an update of the Euro short trade proposed in our last blog of last evening.

It seems like a good time to update as it appears that this particular trade selection is about to end.

Or, it may not.

That’s really the point of researching and finding the true underlying trend in a market and staying with that trend until the market itself gives signs that it has changed it’s momentum and direction.

Yesterday’s chart when we entered our selection for our hypothetical Euro trade on the short side looked like this:

The trend soon broke downward as expected from our signal.

We followed with a very shallow trendline indicator which was generated through our Excalibur process.

The shallowness of the line indicated that there was not a lot of selling pressure as yet so, we hold back from moving our stops lower too swiftly in order to give the market some room to swing back and forth in price. 

Below is a more recent chart of the Euro.

 While our downtrend is still in operation, the momentum of the market has slowed and looks like it will shift again upward very soon.

Until it actually does though, we stay with our indicator and track it accordingly.

The results of this trade will also be positive profit-wise as our red arrowed line is also our stop to the trade and we’re way ahead of our entry price point (seen in the above chart as the blue circle).

Our results will be posted once the trade is over for members to view on this blog. – George
Ge

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Tags: WD Gann, stock market prediction, gold traders
The Excalibur Method, gold price predictions, timing the markets, money tigers, trading education, gold price charts, e mini trading, technical analysis

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