BREAKING DOWN ANY PRICE ACTION CHART IS NOT THAT HARD..... YOUR EYES WILL GIVE YOU ANSWERS.
1) PINK LINES- major Support & Resistance Levels 2) YELLOW AREA- best continuing PA trend lines are between 30-45 degrees. If they are higher then 45 degrees to fast & will drop to a normal level & if they are to low will come up to 30 degrees for trend to continue. Now PA is still above an 30 degree PA trend-line angle. 3) GREEN LINES- major bullish trend lines 4) RED LINES- major bearish trend lines 5) BLACK LINES- current PA support and resistance levels 6) NOTE: LIGHT BLUE 1-5 LINES: bearish elliot impulse wave is going on- PA is now on 4-5 wave (last one). 7) NOTE: bearish three candlestick pinbar candlestick which happened last 45 minutes of trading. 8) NOTE: RSI is still slightly above the 50 level, but will drop quickly during next trading day.
*From current chart (my opinion is) that current PA has broken a major support & resistance level which is PINK LINE of 1.30000 (psychological round number) and will EASILY go down to next support area of 1.29000. YES- that is .01000 pips <next week> drop to the BEARISH SIDE. Before anything else- PRICE ACTION will answers a lot of your questions related to: Trend, S/R, round numbers & show you Engulfing, Harami & Pinbar reversal patterns too.
Comments
ChimbOt
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???
ChimbOt
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ChimbOt
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I ALSO dont understand what could have changed in 2 days of wekend ?
ChimbOt
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LOL, remember traders sell at close of day/ week/ etc. 15 min will confuse you