EUR

Hey Dave, had a good rest?.. a bit of carnage out there especially silver.. so eur on its way to sub 1.40?..

@Chloe, I havent seen ED's vids for several weeks but will try find time to visit them more for "appraisal" purposes. I don't know what he means by gap down. I have no gaps on my EU charts. Forex tends to gap a bit at the sunday openings but mainly related to our time zones/broker times etc. Maybe he needs to change his feed :-) Sovereign Intervention probably causes gaps also for jpy, chf occasionally

Sounds like he is talking about stocks. Stocks love to fill gaps after overnight futures' exhuberance leads to gapping at the cash open. The filling of gaps is like a glorious stop run to the "innocent", then the mkt reverses again. Price generally likes tidy housekeeping. Its when you get a parabolic move like the silver up move lacking any structure that the warning bells ring loudly. What's known as a run of "singles" in market profile terms. Its like if you build a house too quickly without observing structural engineering criteria, the house will likely fall down when you finished it. 100% retracement as I have often alerted whenever we see over exhuberance.

4260/70 would provide initial resistance for further drop to 4090/4100 level...

clear break and close above 4270 would signal more gains and challenge 4425 resistance... break above would signal drop from 4940 has ended...

as long as below 4270 expecting further drop b4 we see recovery...

gl/gt

Dave..the 4160 hold within 11p. for bottom..onward 1.5100..made small correction not large weekly

work all night on a drink of rum..

hey daveo did u catch edmatts latest comment on poss eur reversal..sayn when we have a gap down and trades in the lowr range all day the next day is a gap up making that days low an island..also sayn its a powerful reversal and goes back to atleast previous high which inthis case is 14425..any thought thanks gl:)