A weekly close above key monthly resistance last Friday above 0.7550 gives us projections of upside potential to weekly resistance at 0.7780. Statement is supported by Fibo extension level 161.8%, a weekly break and close of monthly resistance @ 0.7550 , bullish engulfing candle pattern. We are waiting for further price action.... a retest/consildation around ...
With the new volume data coming new calculations made! Here it goes.The reversal points i wrote should work fine! There was another target under 1,0590 (which is 1,0480) again now i don't think it would go under 1,0590 (for now) but if, then buy more :)
The basic premise of Major Trend Reversals, From Al Brooks Video Series. I will be trading this way for a while.
Always with regard to doing some backtesting evaluations aimed to spotting reversal, let’s consider only intraday, and only slow Guppy Multiple Moving Average - GMMA. reversals seem to be often signaled by the concurrence of: 1)high distance (say 1 or 2 STD, it should be checked out) from vwap, while 2) price vs all slow GMMA, or at least most tehm, are on...