NZD/USD started its major breakdown with 4 year's ascending channel .
Breakdown point is 0.7982. Its vertical width of the channel core is 958 pips
(nearly 1000 pips), so probable downward target will be at 0.7024
I mentioned "channel core".....core means a higher possibility area. June 2011 spike was an
overthrowing. And also this time will be extended downward like that. You can say an exceeding out
of the channel core will be an extraordinary extent at a high probability.
I was just wondering -----
What is your criteria for determining the 958 pips ?
With about 6 or 7 possible low points and 6 or 7
possible high points, it seems, to my eyes at least,
a bit arbitrary So, I'm curious how you determined the
high and low points.
Thanks for your thoughts !!!!!