EURUSD - Trends, Forecasts and Implications (Part 2) - page 699
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Imho, I'm starting to have doubts as if this is not it, a correction. No one is confused by the fact that the price at 15m, for the third time broke away from the rising trend? I will do as Strenger said but did not do, I will close and go to sleep.
Good luck everyone.
Imho, I'm starting to have doubts as if this is not it, a correction. No one is confused by the fact that the price at 15m, for the third time broke away from the rising trend? I will do as Strenger said but did not do, I will close and go to sleep.
Good luck everyone.
I didn't say close:)))
I didn't say anything about closing:)))
Wise decision......
But I reckon there will be a buy if we don't get past this line in the next 3-4 hours......
Colleagues, what kind of buying and selling can we talk about today? Trading in the current channel is risking your own psyche. It's been almost a month now and it's time to be honourable.
Are you counting the movement of waves in a converging triangle...?
If you look at the triangle, its breakthrough occurs in the fifth point, which corresponds to a breakthrough of the support line... At the moment, on H4 clearly formed structure reversal wave structure reflection from the fifth point and a move down to 1.3435 with a corrective move ... then observed five wave its end just at 1.The course of this wave down to 161% which coincides with the course of the vulf wave to the level of 1.3425 + / - 4%. Another indicator of the change of direction is the compression of the bollinger bars (pink line high TF (D1)) - which also informs about the price movement to the lower Bollinger band and its reversal downwards.
On the daily chart we see the reflection of price from the upper limit of the bollinger band of weekly TF and its move to the lower boundary.
The weekly chart clearly shows the structure of market participants' moods - in this case the red square shows three downward candles, which inform about the change of direction downwards The fourth candle at the moment is the current week ... to all other things the course of the euro from the minimum of the beginning of the summer with the correction takes place at 161% of the first rising wave that corresponds to the classic movement pattern with clearly visible corrective move from 100% to 61% is therefore unlikely the presence of the move upwards, given these two factors and the factor described by the daily timeframe.If we consider a variant of growth of the euro to 1.43 it is exit behind level 161% Fibo but at a classical form of movement of the euro the lengthened wave corresponds 205% that is level in 1.46.
From all aforesaid it is possible to draw a conclusion that presently we observe a global trend reversal which includes a move of 1200p preliminary between the borders of a 4 month channel and as was described before a trend change to a long term monthly
Written intelligently and beautifully, but I think it all doesn't work or simply has little application to trading...