EURUSD - LEARN FROM MY POTENTIAL MISTAKE!!!
Simply posting this publication to share my recent experience here from lack of FOCUS. It's super important to PAY ATTENTION TO DETAILS. LEARN FROM MY MISTAKE and the importance of paying attention to every details. If anything, you may also get an idea of what "details" we should pay attention to and be mindful of them AT ALL TIMES.
There actually is a decent chance for upward pressure to resume once again in the 3-Day time frame. How so? For one, we need the Green Line to go out to the side to allow time for the White Energy to fall below the Green Line. What are the odds of this occurring? I would say about a 60 to 65 percent chance at the moment. WHY? Because the Red RSI is currently above 50 in the 3-Day. However, we need the Red RSI to "close" ABOVE 50 to increase our odds to 70 to 75 percent. We would prefer the Red RSI to "close" ABOVE 56 to increase our odds even more of the Green Line going out to the side in the 3-Day to allow time for the White Energy to fall below the Green Line to set up for bullish sentiment in the 3-Day.
Keep in mind, in order for the Green Line to go out to the side (sideways), we need the price action to go sideways within a relatively tight trading range in the 3-Day. Well, judging by how tight the Bollinger Bands are getting in the 3-Day, we may get just that (sideways price action within a relatively tight trading range). Then when the Bollinger Bands finally do expand once again as a result of increased volume, we can expect the Bollinger Bands to expand once again. When the BB's expand again in the 3-Day time frame, the indicators will let us know if the price action will fall within the Upper Bollinger Bands or Lower Bollinger Bands.
What was posted above is VERY IMPORTANT DETAILS I "SHOULD" have paid attention to. I simply was not as "focused" as I should have been when posting the two previous ideas. We must currently conclude the current outlook for EURUSD is bearish unless we can see a significant change in the 2-Day time frame. Meaning, we need to see the price action in the 2-Day time frame go sideways within a relatively tight trading range without a significant drop down during downward pressure in order for the Green Line to go higher than the Energy to promote the potential for future repeated higher highs and higher lows.
DISREGARD MY TWO PREVIOUS PUBLICATIONS FOR EURUSD FOR NOW!!!
There actually is a decent chance for upward pressure to resume once again in the 3-Day time frame. How so? For one, we need the Green Line to go out to the side to allow time for the White Energy to fall below the Green Line. What are the odds of this occurring? I would say about a 60 to 65 percent chance at the moment. WHY? Because the Red RSI is currently above 50 in the 3-Day. However, we need the Red RSI to "close" ABOVE 50 to increase our odds to 70 to 75 percent. We would prefer the Red RSI to "close" ABOVE 56 to increase our odds even more of the Green Line going out to the side in the 3-Day to allow time for the White Energy to fall below the Green Line to set up for bullish sentiment in the 3-Day.
Keep in mind, in order for the Green Line to go out to the side (sideways), we need the price action to go sideways within a relatively tight trading range in the 3-Day. Well, judging by how tight the Bollinger Bands are getting in the 3-Day, we may get just that (sideways price action within a relatively tight trading range). Then when the Bollinger Bands finally do expand once again as a result of increased volume, we can expect the Bollinger Bands to expand once again. When the BB's expand again in the 3-Day time frame, the indicators will let us know if the price action will fall within the Upper Bollinger Bands or Lower Bollinger Bands.
What was posted above is VERY IMPORTANT DETAILS I "SHOULD" have paid attention to. I simply was not as "focused" as I should have been when posting the two previous ideas. We must currently conclude the current outlook for EURUSD is bearish unless we can see a significant change in the 2-Day time frame. Meaning, we need to see the price action in the 2-Day time frame go sideways within a relatively tight trading range without a significant drop down during downward pressure in order for the Green Line to go higher than the Energy to promote the potential for future repeated higher highs and higher lows.
DISREGARD MY TWO PREVIOUS PUBLICATIONS FOR EURUSD FOR NOW!!!
Comment:
UPDATE:
Here's a "Pulled Back View" of the 3-Day Time Frame. If anything can be gathered from this, we may have an excellent opportunity for a lot of pips with a short in the near future. However, let's not begin licking our chops too soon. We still need to wait to see what plays out in the 2-Day and lower time frames.
3-Day Time Frame (Pulled Back View):
Here's a "Pulled Back View" of the 3-Day Time Frame. If anything can be gathered from this, we may have an excellent opportunity for a lot of pips with a short in the near future. However, let's not begin licking our chops too soon. We still need to wait to see what plays out in the 2-Day and lower time frames.
3-Day Time Frame (Pulled Back View):
Comment:
UPDATE:
One more look at the 3-Day time frame with an alternative scenario based on what I showed in the Monthly time frame previously.
One more look at the 3-Day time frame with an alternative scenario based on what I showed in the Monthly time frame previously.
Comment:
UPDATE:
Daily (24h) Time Frame:
Daily (24h) Time Frame:
Comment:
UPDATE:
Another Look at the Daily (24h):
Another Look at the Daily (24h):
Comment:
UPDATE:
Here's a "Pulled Back View" for the Monthly Time Frame: NOTE my "placement" of the Green Vertical Time Lines and Yellow Vertical Time Lines in the Monthly Chart below. NOTE the price action when the White Energy fell BELOW 50. NOTE the price action when the White Energy crossed ABOVE 50.
You will see a couple of places in which you may have got out early and the White Energy came back up and price action did not finally fall until the 2nd time the White Energy fell below 50 in the Monthly. This is where the 2-Month TF could have been helpful. I'll provide the 2-Month underneath the Monthly.
Here's the Monthly TF:
Here's the 2-Month TF:
What we are seeing currently with the 1-Month and 2-Month combined, one might think it's more likely we have a similar scenario that is depicted in the following 3-Day Time Frame:
Here's a "Pulled Back View" for the Monthly Time Frame: NOTE my "placement" of the Green Vertical Time Lines and Yellow Vertical Time Lines in the Monthly Chart below. NOTE the price action when the White Energy fell BELOW 50. NOTE the price action when the White Energy crossed ABOVE 50.
You will see a couple of places in which you may have got out early and the White Energy came back up and price action did not finally fall until the 2nd time the White Energy fell below 50 in the Monthly. This is where the 2-Month TF could have been helpful. I'll provide the 2-Month underneath the Monthly.
Here's the Monthly TF:
Here's the 2-Month TF:
What we are seeing currently with the 1-Month and 2-Month combined, one might think it's more likely we have a similar scenario that is depicted in the following 3-Day Time Frame:
Comment:
UPDATE:
One more important note for the 2-Month Time Frame:
One more important note for the 2-Month Time Frame:
Comment:
UPDATE:
Have a look at the Weekly:
Have a look at the Weekly:
BOTTOM LINE: We "must" wait for CONFIRMATION of upward pressure to resume by waiting to see what occurs with the details I mentioned in the previous time frames.
We MUST conclude the price action currently would be sideways at best or downward at worst for the near term until we see what occurs in the 2-Day Time Frame.
Here's the 2-Week time frame:
Here's the 1-Month time frame:
If anything, I hope I have encouraged everyone to be MINDFUL of what is going on in ALL TIME FRAMES.