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Tuesday, January 12, 2010


13:00 PST

Last night I suggested that the Bears needed to put a fork in the Kumo. That happened and then I made my daily forecast with very specific limits and significant price levels where price would be likely to turn.

The chart below shows this forecast and the outcome.

1132 is a very significant price level this week where price will tend to turn

10:30 PST
The Euro trade is doing great. I will be trading in and out throughout the day. It would be too much work, and it would probably bore you if I showed every scalping trade so this is last post I'll make about this trade.

I only wanted to demonstrate the power of the Andrews Pitchfork. As you can see by the 5 minute chart below we have Kumo Resistance and a bearish cross. Good luck

07:45 PST
Today the ESH0 is expected to range between 1132 and 1138. Extreme boundaries range from 1125 to 1142.
1135.27 may act as a significant pivot today.

For the week the expected extremes are 1122 to 1160. 1132 will be a major pivot this week.
The EUR/USD came close to my stop this morning but it appears that all is well. I've added a very small scale fork to the chart this morning. This Green fork is a forecast.

Analysis presented on this Blog has only informational, and educational purpose, and does not represent a proposal for buying or selling currency contracts.

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