A Blog of Commentary and Ideas from an FXstreet Premium Member by 
Greetings again, Everyone!
A quick Update for you on our Stout and Bullish friends, Euro and Pound.
We move to Hourlies this time with both, and are approaching Key Resistance Levels here, where we may see Reversals due to a bit of Bullish Exhaustion.
As always… Price cannot appreciate and depreciate indefinitely…
Just like us when we exercise… we need a little “rest” as well….
But… we will just “Rest” with these two?…or simply hike back down the mountains?
We Shall See!…
Give them a Click, and Post-Time is 15:05 GMT.
We will check in again to see exactly when…and if…these Levels remain in focus !
Hi CVJ,
First of all, thanks for invitation!
Here is the picture of EURUSD-H4:
http://img17.imageshack.us/img17/5458/123id2.jpg
1.If there is a price formation called “W” and 1,3070 is an important level after breaking we could go to 1,3325 and How do You, how can I be ’sure’ that such line is broken?
(could be like one candle H1/H4 closed above it?)
2.If we go up to point D there is a Harmonic Pattern, which one? and how to calculate a most probably point for reversal
(Bearish)
Regards
Tomek
Greetings Tomek, and welcome for a visit!
Without becoming too complex here with Garley Butterfly Formations and such… perhaps it will be easier for you to “read” your Example here as simply a “Rounded-Double Bottom” formation. The 1.3070 ish level is, indeed, a major Area… and in reference to your Fib inquiry earlier, you may simply Fib out a conventional section here to use as “dynamic” levels.
You may find a series of Fibonacci Retracement “Clusters” to give you what you are looking for.
Candle Closes will assist and be part of this process…although for me personally… I prefer them on the longer-term Daily Cycles, at least.
Send along a direct email to discuss further, if you wish… ultramaxgroup@yahoo.com.
Sincerely,
- Tim -