Ygideon

Long term view

Short
FX_IDC:EURUSD   Euro / U.S. Dollar
Taking alook at monthly timeframe we can clearly see the points of liquidity. Long term areas of supply and sellers. Sellers are currently at this year's high/open price 1.23400 break above that brings 1.25400, 1.39500, and ultimately 1.50300 into focus.. It's important to note that recent upward push from 1.17200 was strongly rejected by sellers at yearly open (1.23400) and we are currently at yearly low at around 1.17200.. the month is still bearish this 3rd quarter, with that knowledge, a downward break and monthly close below 1.17000, 1.16200 will bring the points of support into focus. Buyers currently at 1.17200, if they are defeated then price will push towards last year's low at 1.06300. othe area's of demand lines up as follows 1.0500, 0.96000, 0.83000 and all time lowest at 0.58000 area . It's important to note that we are future traders and looking at long term areas of liquidity is very necessary to us.. unless you want to trade for 30 minutes then do something else the keep looking at a 1 minute or 30 minute timeframe which has proven to me time and time again that it can't help me win, furthermore it's psychologically mobilising. Am new to trading, I have one year of experience, no much gains but still going. Long timeframe requires patience but it's worth it because in my view I think it will grant me more time to live life, less chart time, more pips.. Cheers and good luck

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