04:50GMT triangle formation in 15 Mins, 30 & 1 Hr in most pairs; big moves expected
03:40GMT The 2Hrs & 8 Hrs ranges
02:20GMT High Volume, trade with extra caution - some trends are for stop hunts.
00:00GMT Good Morning Friends, I thought to talk about retracement rather than giving more bad news. With current levels of High/lows the retrace points are:
GBPUSD:- RT1 - 1.5677; RT2 - 1.5751
GBPJPY:- RT1 - 139.87; RT2 - 140.90
EURJPY:- RT1 - 122.09; RT2 - 123.04; RT3:-124.49 {***RT1 was achieved}
EURUSD:- RT1 - 1.3686; RT2 - 1.3750
Is this a perma trend lower or do you think we be back at last weeks levels this week or next week?
ReplyDeleteMy take on this trend is that it will stick to 8hrs MA middle line or lower line for next 2 to 3 bars and then (most probably t'mrrow for EUR & day after for GBP) a climb back to the 61.8% levels from lows. I think there is a chance that players may test lows again to test traders
ReplyDeleteIf they don't test lows much more appreciated!!!
ReplyDeleteLIQUIDITY table suggest an up move for ej, thoughts?
ReplyDeleteIt does but history shows that it was below -75% before. So we can't take it as a confirmation. But the direction must be UP
ReplyDeleteWell the first part is done sticking to 8 hrs MA & new lows. Now we'll have to wait.. its a wait tunnel..
ReplyDelete