Quote from downrivertrader:
I know it sounds nutty, but I use a timing system for position trading currencies.
I got concurring signals on my method on several time frames. I think we may be in for some action this week.
The problem I have is that forecasting the direction correctly is (of course) not easy. To me, it looks like a big move down in the EURUSD is coming this week. Normally, I would expect consolidation after the big moves we have had and we have been getting that to some degree.
I have a couple time frames to watch.
8-25 Tonight, beginning at 7:30.
8-25 Tonight at 11:00
8-26 tommorrow morning around 6:00AM
8-28 Thursday - All day with either a major trend change after the close or major follow thru on the direction ending on Thursday.
The last time these signals lined up we moved down about 700-800 points over 30 days or so.
Guess I will just try to be alert and go with the flow. The signal I got started on 8-21 at 12:00 Noon in the NA session.
