Buy and Sell Signals, and Other Market Perspectives Message Board

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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives

SPY 670.92

+0.1%

Nov 7 4:00 PM EST

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To: yard_man who wrote (88095)	11/23/2016 4:50:30 AM
From: GROUND ZERO™	1 Recommendation Recommended By Hawkmoon Read Replies (2) of 218588

Here's a 3 year daily chart of the EUO which is a U.S. Dollar ETF which represents short Euro... so, basically this is a chart of the dollar itself against the Euro... I drew two wedge patterns on this chart, one small and one much larger... we can see how the dollar just recently broke out higher from both wedges... using the 65% Rule, this market broke out right on schedule, that is 65% into the wedge pattern itself... the measured move target for each wedge is 5 and 10 points respectively... the current market price is 26.65 or so, it broke out just above 25 or so... this means the EUO could rally to 30 or 35 from current levels... GZ

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