On a first sight, there is a huge descending triangle on a daily graphics. If the pattern works, the thing becomes really really scary as we could easily go to the levels of mid 2011 as less.
On another side, we may have an inverse Head-Shoulders figure in formation and that would drastically change the picture. In fact, that inverse HS applies quite well to the economic calendar, specially, to the decisions which the FED and ECB may take regarding their interest rates: first FED leaves the rate unchanged and then in March ECB slashes the rate to negative values. If this pattern works, then we may go to the maximums by the end of the year.
There are lots of additional factors which can easily change this snapshot. I´d appreciate any comment or idea regarding this!
On another side, we may have an inverse Head-Shoulders figure in formation and that would drastically change the picture. In fact, that inverse HS applies quite well to the economic calendar, specially, to the decisions which the FED and ECB may take regarding their interest rates: first FED leaves the rate unchanged and then in March ECB slashes the rate to negative values. If this pattern works, then we may go to the maximums by the end of the year.
There are lots of additional factors which can easily change this snapshot. I´d appreciate any comment or idea regarding this!
Please, follow your strategy! Always!
If there is no strategy that has proven itself successful, please do not trade with real money!
If there is no strategy that has proven itself successful, please do not trade with real money!