EU M1 Chart: Could be looking at another break to downside.
Edit: Popped 9 pips below mid-support S1 = 1.3293 and then pulled back up to mS1 to retest it (now as resistance?). PA then consolidated in that 9 pip range below mS1, and then got pumped up to retest TL and a recent previous PA support level just above. This may be staging for a true break to downside. Just an hypothesis. If PA drops down thru the 1.3280s on good volume, a first viable target I see is S1 = 1.3268, which coincides with 424% FE level off two BB squeezes.
Edit: Condensed second chart to keep history and current PA action intact. There seems to be no hurry to move the PA to downside breakout status....the longer they keep the PA high, the better for swindling others into long positions while they build their shorts (pure conjecture). But note that divergence is appearing...... Well, off for some rest. They can keep this whipsawing crap up for hours!
Edit: Add fouth chart showing target price hit, and a bit more (that's ok!). But then look at the Pump 'n Dump 'n Pump! Sheer speculation on my part from my viewpoint of the Daily chart.....this is biased DOWN, but they are supporting it in the 1.3100-1.3300 range. And they will go on supporting it and also use every excuse to pump it higher whilst sand bagging (taking on shorts) in preparation for the flood down, at which time they will remove their support and give the oncoming flood down some help with an initial send-off DUMP. Ok, that said, I'll just have to see how this plays out over the weeks/months ahead....
Edit: Popped 9 pips below mid-support S1 = 1.3293 and then pulled back up to mS1 to retest it (now as resistance?). PA then consolidated in that 9 pip range below mS1, and then got pumped up to retest TL and a recent previous PA support level just above. This may be staging for a true break to downside. Just an hypothesis. If PA drops down thru the 1.3280s on good volume, a first viable target I see is S1 = 1.3268, which coincides with 424% FE level off two BB squeezes.
Edit: Condensed second chart to keep history and current PA action intact. There seems to be no hurry to move the PA to downside breakout status....the longer they keep the PA high, the better for swindling others into long positions while they build their shorts (pure conjecture). But note that divergence is appearing...... Well, off for some rest. They can keep this whipsawing crap up for hours!
Edit: Add fouth chart showing target price hit, and a bit more (that's ok!). But then look at the Pump 'n Dump 'n Pump! Sheer speculation on my part from my viewpoint of the Daily chart.....this is biased DOWN, but they are supporting it in the 1.3100-1.3300 range. And they will go on supporting it and also use every excuse to pump it higher whilst sand bagging (taking on shorts) in preparation for the flood down, at which time they will remove their support and give the oncoming flood down some help with an initial send-off DUMP. Ok, that said, I'll just have to see how this plays out over the weeks/months ahead....