E/U 1.3630 550pm NY
We are not fibo retracement traders. We do not (rarely ever) trade bounces against a most recent technical move. This leaves me trading less than 1% margin with a bull break above 1.3659 after a tap back to 34 to targett 1.3744 (less or more). Our preference is to consider the bearish potential should the euro test near to or above 3813. My stance is mildly bearish amongst quiet consolidation but we will consider the above bull discussion to validate new resistance mentioned earlier. Since our pt1 was strongly extended — we could [possibly] see the “reverse whip”
Right now our primary movement timing program indicates best risk reward in two timing events tomorrow: around1-130amET and 530-7am tomorrow on the 6th. Those are start times. The first period is likely to last until about 3am and the second period is likely to last through 9-10am.
For January 7th, the optimum period is likely to start at 230am and last 3 hours and then a normal 930am through 11am and then a potentially powerful period at 3pm that afternoon. Our Program Timer is combining two different sequences this week with good overlapping production patterns. This program is very accurate in single sequence patterns but we decided to include an additional sequence due to recent holiday vacancies. If needed — based on events for the 6th — we will reconfigure our program and advise any changes for the 7th.
Our timing program is completely unrelated to news events but at times may correlate. I am not a news trader but only when technicals permit. Currently fundamentals can impact the bearish structure but we will look to the GBP and the USD Index to determine the viability for a good Euro trade based upon risk appetite seen in the GBP and the divergence within the Dollar Index. We will follow eur/usd price and will make low margin entries (not posted here) based on our forecast.
Patience is required through this Asia session, or soon after any large/fast move. Will follow a bear collapse or the bull tap but choppy/dry consolidation offers low probability for efficient profits.
Britt
