Structure Analysis -Market is consolidating after a year of punishment, with a double-top indicating desire to make new grounds for structure.
Structure Predictive Analysis - Reasonable to assume that price has bottomed @ 0.7000 which is a relatively strong .
Ratio Analysis - XA .78 retracement convergent with AB .
Analysis - complex retracement. + Point D of terminates in and around the same area of the termination of .
I sometimes ignore time altogether and only look at price. Therefore drawing XA from sept to oct, is no different to drawing XA from sept to dec. And why is that?because at those times prices were the same. Now if oct and dec highs were DIFFERENT then I wouldn't have constructed an XA leg that consists of multiple swings.
Yes, that is good. If you could show me a chart that would be cool. My thought is that this baby will ski rocket sooner or later, sooner hopefully because butterfly pattern is already complete. personally I think 127 is very deep. But the 1618 of BC hits structure perfectly. So we could see a bounce here before 127. But we'll see where the true bottom is.
Hey Laurence, There's more data here leading to a long position off the CD of this butterfly than any reason to stay short. I believe the dollar is strong and the Aussie is weak. I believe we should rally off this 1.27. I'm traveling tomorrow and I'm not completely confident in my wifi status. So, my live trade is hopefully accurate enough to carry me into Monday.