When MACD, RSI, and williams agree, I don't argue. The 2 previous consolidation triangles are clear, 2 gaps to top, then a fall , see percentages indicated. This latest rise, and 2 gap up much greater than previous 2. 2 previous falls drop to same percentage above start of gap 1, purple lines. This 3rd fall estimate to either percentage (much greater this time 17.77%) or to purple lines, same percentage above start of gap 1 3rd triangle. Also, this shows effects on markets, not guaranteed, but probable. Getting my head out of strictly numbers and charts, to see what world events could cause this severe drop in dollar? Not sure, perhaps one of you who trade forex could advise, reply here. BUT NO DENYING: MACD, RSI, and williams are way overbought, and are heading down, simply cannot sustain these levels, which are extremely high right now. Finally, gap between 50 and 200 day MA are spread wide, and need to come back to trend as in previous triangle formations, and also bollinger extremely strectched, much more than previous right before their falls to....(XXX???). WAT TOO MAY SIGNALS HERE, universe is aligned here for a major dollar fall v yen. Tight chart, lots of info, sorry, wish there was bigger page to show all.
Comments
ChristopherMichaels
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Only thing stopping the dollar is, well the dollar. I look for some profit taking after the first, then a more attractive buy for some to get back in..happened last year the same way, about 400 pips, who's to say..I'm sidelined for now, AUD oversold even with bad GDP, dollar too high to risk. Time to gaze at the weekly-monthly charts. IMOP
claydoctor
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Also, never seen the bollinger stretched so much, makes me believe it has to return to midline at least. In fact, the current spread, the most "ever", I said "ever". Do a check of it, and then re assess, and reply back please, I'd like to know your thoughts on that point. Can't just dismiss these very important indicators, because of market manipulation.
vlad.adrian
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You keep calling a top for this pair, you keep calling a top on IWM. You were obviously wrong. It happens. Why don't you let your ego aside, admit you are wrong and learn something from your mistakes? You have 200 published charts with USDJPY and IWM shorts.
claydoctor
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Yes, I've lost with my predictions, but not today, HAL short paid handsomely (12X), made up for the previous wrongs, however, each time my timing is off only makes the eventual collapse that much bigger. This is simply unsustainable, and if you are long, hope you have your stops in, providing that will help you. I have a broker friend who does this very same thing. I may be wrong in my timing, but when I am right, I will more than make up for those other losses, and then some. So then simply don't follow me anymore. :)
claydoctor
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And when I have been wrong with my timing, I posted that, see m recent post where I explain the triangle that DID NOT HAPPEN.