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pennies2007

04/07/15 11:12 AM

#132148 RE: simplegreen #132147

Yep, agreed. Those TDI patterns are pretty reliable in predicting price action movements. It's the only indicator I've ever found that's useful for things like pattern evolution.

In this case, the first part of the triangle drop off the top trend line results during consolidation. Then, the second half occurs during the high volume sell offs during the first part of the day. I expect to see the same thing occur again on this last leg down. Basically, the TDI will form a 3 wave pattern to the downside. The bounce in between will allow the consolidation to complete before the selling kicks in again.

The price action is following a drop, base, drop formation for the time being.
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pennies2007

04/07/15 11:14 AM

#132149 RE: simplegreen #132147

EU short just triggered my TP of 1.0850 for 15 pips. Gonna sit back and wait it out now. If that channel holds up, we're likely to move back to the top again and dive deeper into the 5 minute bearish quad tunnel before it tanks hard again.