Mid/longer term EUR/GBP

Even if it's maybe longer term chart, i find it nice and harmonic, some reasons possibly to slow down with the downtrend or even reversal:

 

1. Ideal Gartley pattern on weekly

2. Weekly 50% fib, daily 78.6 Fib

3. Ideal abcd inside 61.8->1.618

4. Strong resistance (now support) area between 0.78-0.81

5. Daily bullish butterfly 1.27 ext. with abcd in the CD leg 

6. If nothing from above work we have a nice down target to 161.8 extension of the daily butterfly to 0.77 area 

 

 

 

EURUSD M3O CRAB

USD CAD H4 BUTTERFLY

USDCAD M 15 ABCD / BAT

GBPUSD 1H ABCD / GARTLEY

EURUSD M15 ABCD

EURJPY H1 BAT

Secondary confirmation indicator

USDCAD M15 chart on entry of trade on 5/20/2010

Bottom indicator is Awesome Oscillator (AO)

I have had problems entering a position too early, then getting stopped out. The Awesome Oscillator or AO indicator maybe of some help, waiting for it to change color before entering the trade (which is not what I did here, costing me about 45 pips). Candle formation alone does not always work, neither does the slope direction line (SDL). I think the combination of the three, AO, SDL, and candle formation will help make a better entry on the trade.