UPDATE #1: EURUSD: SImple Lesson On Price Action Analysis

Ok, so it's plain to see that the bearish price action I referred to earlier that I said I wanted to see is happening. It's not time to SHORT anything just yet. But it's starting to look that way. I'm still re-analyzing this thing from scratch to see if I can tell what the chart is telling me here but the price action is giving clues to a SHORT trade soon. Not now. Soon.

Here's that previous chart for comparison:

I also want to point out that the MAJOR SR Structure is NOT a price point or a specific line on the chart. It represents a ZONE or AREA of support/resistance! I think I've been around long enough to know that there's no such thing as a LINE of support/resistance, thank you very much to those that keep pointing that out to me! But it is useful to use a line to REPRESENT support and resistance.

But to the point, in fact, prices ENTERED the ZONE of resistance and came back out of it. It never broke above it so in effect, there wasn't a "break" of structure here. Just look at this DAILY chart and see. Don't mind the wave counts. That's my work in progress.