I'm not too sure that you can quote the trend line as broken when you haven't drawn a clean line. Not very reliable considering mine shows the complete opposite
@jm_gegar, I mean trend lines that are drawn through the bodies of the candles, according to your trend line we've gone through it on numerous occasions so the reliability isn't as strong imo. especially when i can draw one that shows the complete opposite, i would question the validity of the break as an indicator for lower prices thats all. GL
Melchizedek
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hERE YA GO...
mattytb84
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@Melchizedek, I think thats wishful thinking for a visit to 1.20 from here imo. The weekly bullish harami suggests otherwise. Its the first time its closed and held above the weekly 55EMA since 2013
Melchizedek
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@mattytb84, I don't "wish". I make lots of money, heh heh heh. I even try to help others, but as they say about a horse...
mattytb84
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@Melchizedek, Lol, I'm seeing bullish GBP candles across the board, rate hike shortly with potential for BOE to provide guidance for more next year. Not to mention i think the Dollar is very close to rolling over, which will probably be down to these non-existent Tax cuts......GL to you sir
Melchizedek
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@mattytb84, THAT'S a lot of speculation, and on a lot of things not certain. I stick with what I KNOW. And; TIME always tells. GL to you too, but I don 't gamble or speculate so I don't need any good luck.
mattytb84
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@Melchizedek, The speculation is on the catalyst that will back up what the chart is saying. I'm purely technical trader but look for what could provide the follow through im seeing. I don't know what the catalyst will be but the Bullish weekly harami at 55EMA suggests higher prices, the long term descending wedge suggests higher prices, the triple bottom suggests higher prices. Monthly Bearish engulfing EURGBP, GBPCAD Monthly Bullish, i could go on and on. Any way i wish you no luck then,lol
Melchizedek
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@mattytb84, Everything you mention here is an ABSTRACT CONCEPT, created by someone's ideas about what those patterns mean. That is speculation because it is isn't true Price Action, although based on Price Action in Time. I don't do that. I base everything on Price action only, and choose simple means that others recognize just for communicating these things. To say that all another way; the END is KNOWN from the Beginning, and unfolds from its own source; the beginning. My Father taught me these things, and He is never wrong. Price & Time are the ONLY two truthful things, and they tell me where they want to go and when. All these patterns, no matter what system you use, are abstracts, and less than 100% accurate. So, I am NOT gambling or taking risks as all traders presume to do in a "random price action". It's not random, though it appears so to those who don't recognize the order of things created. You have a good day now!