Simple counter trend trade based on gold now appearing very overbought. I would like to see it drop back down to the $1300 per ounce region before entertaining a long position if price begins to bounce.
Three fractal sequences are shown in the analysis (1-2-3). It is characteristic of sequences that their percentage is similar. We measure the percentage because the vertical scale axis is logarithmic. The correction level of the first sequence and the correction level of the triple sequence are also the same. The single and triple sequences are a two-wave fractal...
The rate moves to a rising trend channel. The trend channel direction is parallel to the ATR axis of the exchange rate. The ATR axis also rises. Therefore, a further increase is expected. Target price is the top of the trend channel 115USD.
Our purple line we have drawn on our chart is a VERY strong monthly and weekly support level in fact it is so strong we are wondering if it broke into a steroid factory and swallowed all the pills, if you don't believe me then open the chart and take a look for yourself... but of course you would do that anyway and not blindly follow a strangers say so wouldn't...
Let's look at this analysis. With particular regard to the percentage of past and current movements in the exchange rate. A definite fractal sequence can be identified. I use percentages because scaling of the vertical axis is logarithmic. Therefore, in this case, the basic rule is that the rate may be the percentage movement of the exchange rate. If the theory...
The correction was missed, as the previous analysis referred to. A very strong trend began to emerge. Target price is 7738 usd. The amount of correction triggered from this can determine the movement of the next few days.
Daily chart showing a nice resistance and good looking buy zone for future bull runs.
Crypto traffic is increasing again in bitcoin and alts so this could be one of the final positions before another big push up.
Why is EURUSD correcting lower after such an impulsive breakout?
Firstly, we have nothing in the way of major economic releases or ‘news bombs’ to send the major currency pair in either direction.
After an aggressive turnaround in stocks, we have seen the market relatively flat this week as we consolidate...
Simple to understand... no indicators.... no bull#hit.... price bounced recently off a strong support zone and we are expecting it to make a run up to our resistance zone, is that easy enough to understand?
So why do people complicate it with so many technical words? Yes I know the technical terms but I like to make things simple so people understand and can...