price is moving up and buyers who were long 2 hours ago will sell their longs at this current level for breakeven to little loss. Some good old long unwinding. If not its a daily pivot test again. See if its a break long or another rejecton short
HI Ata, Just wanna know about your opinion. Is it possible if EU will go to February 2018 high at 1.25xxx incoming months? I saw some people posted at somewhere sites. But looking at this situation right now, looks like 1.23xxx could be the highest of 2021. I don't see any fundamentals which will prompt EU reach hundred pips up in few months later. How about you? Thanks.
{quote} Well.. I am not sure for 1.25 but if you ask for 1.2450'ish levels then yes, it actually could happen in coming months.. BUT it depends on how eager bulls are to reach and retest the red colored zone I have marked on chart below.. Currently it looks like bulls could do it.. They are very close at the moment so why would they give up? Then... We also have a potential Gartley here and if that plays out we can even go to crazy levels like 1.35... BUT again: Very unlikely to think of Gartley with current picture where price is still below resistance.....
but 1.24 or 1.25 first
{quote} I briefly tried to explain one of my logics on image below.. there could be many other logics a trader could follow.. To understand better you need to know the details of my methodology which this thread is not serving for.. Here we only trade the EURUSD.. To read about my methodology please visit my other thread: https://www.forexfactory.com/thread/...-explained-faq I hope it clarifies
{quote} Hi Ata. Thank you for yours efforts and clear method. Two questions: The trend line angle wich degree of inclination must to have Why You consider the second candle and not the first. cheers
