well they say every thing in trading comes in clusters of three. strings of good luck, winning streaks losing streaks etc etc. this chart in its most naked form, can at any one time, give you 1000's possible outcomes as to where the price may be going next, today id like to discuss just one.
in the most broad perspective. price as been respecting that upper trendline i've had on there, four consecutive times at least. but i you look with a trained eye, or at least from how i see it since my word isn't gospel, and so is anyone else's in this trading thingy we got going on here, price has only bounced TWICE!.
we can call this whole thingy a state of liquidation in which the third bounce lower, should land at the bulls threshold of being bullish, aka structural retest, coincidentially or not, that is exactly where price rejected last month and looks to be doing so too this month. this should mean its time for bulls to gear up or the next run as indicated by the arrows.
but ofcourse that is just one side of the coin.
price can and will eventually do whatever it wants, something we can all agree on for once, ask any trader or refer to 2008, there is also a possibility of eventual bearish continuation, however not without bulls having a piece o the pie on this sweet loved EURUSD thingy of ours
in the most broad perspective. price as been respecting that upper trendline i've had on there, four consecutive times at least. but i you look with a trained eye, or at least from how i see it since my word isn't gospel, and so is anyone else's in this trading thingy we got going on here, price has only bounced TWICE!.
we can call this whole thingy a state of liquidation in which the third bounce lower, should land at the bulls threshold of being bullish, aka structural retest, coincidentially or not, that is exactly where price rejected last month and looks to be doing so too this month. this should mean its time for bulls to gear up or the next run as indicated by the arrows.
but ofcourse that is just one side of the coin.
price can and will eventually do whatever it wants, something we can all agree on for once, ask any trader or refer to 2008, there is also a possibility of eventual bearish continuation, however not without bulls having a piece o the pie on this sweet loved EURUSD thingy of ours