TRIANGLE APEX- MARKET TIMING TOOL IN FX AS WELL

This report covers 2 topics:

1. Triangle Apex can be used as a market timing tool in FX as well.
2. Update to my EUR/USD July 14, 2009 forecast.

_____________________________________________________________

It should not be of any surprise that the triangle apex can be used as a tool to time major trend changes or reversal in FX as well.


CLICK HERE to view the report that explains how triangle apex can be used to time major trend changes or reversals. This report includes 16 charts proving the potential of triangle apexes as a market timing tool.


As the following chart shows, the EUR USD reversed at precisely the time the triangle apex formed. Again, this is an ideal scenario. The scenario could be far form ideal depending on how the triangle is identified by the analyst. The lesson though is to expect a major trend change or reversal at approximately the time the triangle apex is expected to form. So the analyst should be aware at least 3-5 periods before and after the apex forms.


Although major trend changes may not occur at every apex, if you view the report I prepared on my site, then you will agree that it is worthwhile to identify triangle apexes and be alert during that period.


UPDATE to EUR/USD FORECAST (JULY 14, 2009)


CLICK HERE TO GO TO ORIGINAL FORECAST


Triangle breakout June 20, 2009. I am looking for two daily consecutive closes beyond the upper trend line of the triangle. Since the triangle formed in Wave 4, Wave 5 is likely to be sharp. A type of mania.

Minimum Price Objective: The minimum price objective is from 1.46-1.48. EUR/USD may face resistance at the 61.8% confluence zone ~1.46. Would take some profits off the table and leave a portion of risk capital to partake of further capital appreciation.

Maximum Price Objective: Max price objective is 1.49-1.55.

Corrective A-B-C: Whether EUR/USD reaches 1.49/1.55, we could expect a complete retracement of wave 5. The sharper the rally from here on, the more quick and painful will be the retracement.


Figure 1: Observe the timing of the apex and the M reversal.




Don't forget to visit
Technical Analysis Base Website at http://www.technicalanalysisbase.com and
Sanjeet Parab Blog at http://sanjeetparab.blogspot.com


Sanjeet Parab
________________________