We certainly could push to 3250 where there would be a massive collection of stops run (and large orders down there as well).
Weekly RSI is approaching April/May 2012 lows, but still not under. This creates hidden divergence soon.
Once this low is set (and broken in the future), there will be a FAST move down to 1.27
(which should expand this weekly 55 BBands), as there is just nothing left for the RSI to run off of.
It will go into "slippage mode" and won't be able to find hidden divergence anywhere (except on the bearish side). Finding a bounce will be tough.
It will look similar to the Aussie in April and May of last year.
At least 80% of the traders on this forum are like "WTF is he talking about", but hey, you might figure it out one day!
Be glad I gave you this sneak peak but the rest is up to you.
Hope you get something out of it. Stare at this chart for an hour and shit will click for you (maybe).
Weekly RSI is approaching April/May 2012 lows, but still not under. This creates hidden divergence soon.
Once this low is set (and broken in the future), there will be a FAST move down to 1.27
(which should expand this weekly 55 BBands), as there is just nothing left for the RSI to run off of.
It will go into "slippage mode" and won't be able to find hidden divergence anywhere (except on the bearish side). Finding a bounce will be tough.
It will look similar to the Aussie in April and May of last year.
At least 80% of the traders on this forum are like "WTF is he talking about", but hey, you might figure it out one day!
Be glad I gave you this sneak peak but the rest is up to you.
Hope you get something out of it. Stare at this chart for an hour and shit will click for you (maybe).
Be hopeful in a winning position, and fearful in a losing position.