I think most of you will agree that we are in an intact uptrend. That's why I had put a stopp buy order tonight at the green horizontal line which has been filled.
Ideal target may be the upper pronk of the pitchfork that is close to the highest pronk of the same.
But it needs some more confirmation to become sure that the uptrend has resumed.
Yes, sure the red one. My targets are never targets I trade on. They are potentials of the price. The trade is in between retracements and targets I define within the maturity of the trade(s). Most people trade to staticly(including myself more than enough).
Ooops! It looks like it's fighting us now. :-( I hope it doesn't fail. Those swing lows seem to me highly probable, no matter what. If it failed even at that minimum target, it would leave me dazed and confused.
Yes, I would. But was is it? Was it in the chart before. Yes, it was. It was the fall back to the median line, seen clearly in the 4-h-chart. But the big picture hasn't changed. The undecurity of the dealers has increased. The trend hasn't changed. Who want's his money back should follow the trend now again. We are close to the bottom of the Donchian channel and the annual average. Perhaps it falls a bit more, perhaps not. But the chance that the trend will resume now is bigger I think.
I m stopped out now the second time. Does this pair still have the potential to reach my potential target zone at arounf 1.8450 ? Nobody nows. 1.8050 seems to become a major support. But we are dangerously close to the pitchfork's median line. Therefore it needs some impulse to get the power for up. Slowly, slowly there is an idea forming about what can happen in the next days. But it's to early to speak it out.
Let's sit and watch as tears go by...