Hi guys , I was not here for a while and ı just arrived home. After preparing something to eat I turned on the computer and looked at the charts , and honestly I really feel regret that I closed the orders so early. But its too late So this post will be some kind of outlook on EURUSD ...
As you can see in the picture the pair has stopped at a really critical point , where both circular support and the channel support intersects(energy point). I really was not expecting this kind of explosive downtrend , but like always the market is the final decider. The zone in the black rectangle is the place which we shud really watch.In the following days the price shud meet some buyers. In other words these levels are really strong support levels for the pair. It has the potential for a reversal for a new trend or a retracement of the trend from 1,37s. But still we shud be careful and we shud wait for the pair to form a "bottom" and maybe a reversal pattern. In other words...we shud be careful and if there will be a bullish trend we shud somehow join that trend and these levels have the great potential for a reversal...
And , if these levels are strong enough to change the bearish trend into a new bullish trend then we shud know that the red circular resistence and the channel resistence will be the first walls that the bulls shud destroy...This strong resistence of the red circle and the channel resistence might cause a triangular consolidation zone which will be a nice formation for us...
Regards...
http://img834.imageshack.us/img834/1073/daireler.gif
As you can see in the picture the pair has stopped at a really critical point , where both circular support and the channel support intersects(energy point). I really was not expecting this kind of explosive downtrend , but like always the market is the final decider. The zone in the black rectangle is the place which we shud really watch.In the following days the price shud meet some buyers. In other words these levels are really strong support levels for the pair. It has the potential for a reversal for a new trend or a retracement of the trend from 1,37s. But still we shud be careful and we shud wait for the pair to form a "bottom" and maybe a reversal pattern. In other words...we shud be careful and if there will be a bullish trend we shud somehow join that trend and these levels have the great potential for a reversal...
And , if these levels are strong enough to change the bearish trend into a new bullish trend then we shud know that the red circular resistence and the channel resistence will be the first walls that the bulls shud destroy...This strong resistence of the red circle and the channel resistence might cause a triangular consolidation zone which will be a nice formation for us...
Regards...
Imagination rules the world ...