Mystery Chart Revealed: Euppy Breaks Down To New Lows

JC Parets
June 9, 2016

Last week I shared with you guys what I thought was an interesting breakout. Like I try and do every now and then, I deleted the labels and the y-axis so you guys wouldn't have any biases towards the charts, knowing what it was. Everyone pretty much agreed that it was a screaming buy. Today we're bringing back the legend and y-axis so you can see exactly what is it. We are also flipping it upside down, the way it was originally intended to be, so you can execute according to your specific time horizon and risk tolerance.

Here are the mystery charts once again, first on a weekly timeframe, and then on a daily timeframe. Each one has a 14-period RSI plotted below:

6-3-16 mystery chart w

 

6-3-16 mystery chart d

Here is what the charts actually look like. We're talking about the Euppy: Euro/Yen $EURUSD. Here is the weekly timeframe:

eurjpy w

Here is the daily timeframe:

eurjpy d

You guys pretty much agreed that the mystery charts were a buy. So now that you know what it is and it's right side up, is it a short down towards 115?

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