If the cycle is in the right direction then yes imho, they return TO price.
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It is very easy to be confused in Forex.
The market does it to you, the gurus do it to you, the indis do it to you, hell the forums might even do it to you ().
We, as traders though, would only be looking for some “reason” to trade.
And that reason is often gained for us through a blend of indicators etc while we sit & wait, for THE signal to arrive.
ALL indicators actually work (as such), again imho, while they could look different structures such as lines ie pivots & fibos, or rotating curves such as BBs, RSI’s etc.
And they all share one thing in common. And that is as a derivative of something that has occurred PRIOR to them.
That something is .... PRICE
(or more specifically the movement of price).
Sometimes folks might not (quite) nail the situation view, or availability, of what PRICE is or was.
Wherever price is, and at any point in time, can be alternately viewed as just a HORIZONTAL line, sitting (anywhere) on a chart.
For whatever reason folks trade, or exchange one currency for another around the world, or just on a Forex screen, the SOLE factor for immediate view is sitting there as ... PRICE.
Whenever I look at a chart, and for whatever reason, I must always
EXAMINE WHERE PRICE IS, WHERE IT HAS BEEN, AND WHERE IT “CAN” GO !
Whatever method or foundation is used, PRICE WILL BE the main consideration,
on either a buyers or sellers mind, in whatever exchange they are conducting their business,
YET we might only still see it as a variable “hidden in the midst” of the indicator/template currently used.
When price DOES make sense to a trader, (ie where it came, to where it is currently NOW, and THEN, to where it is going),
hopefully trading becomes an understandble situation and not THE confusion.
ie If you have no belief on where price is “going”, then you are ONLY hoping that indicators might TELL you that answer.
When price is going, it is actually going to SOMEWHERE, and that somewhere is either a short term, medium term, or long term line which we could call a TARGET.
If we think price movement to all these targets is random (and not just the meandering random-like way it gets there), then how can we ever trade with confidence.
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Hi Timetells, yes i also marked that price (1.34810) on the chart when you mentioned it just to learn and see if the price will reach it and when.Ignored
GU has its targets, short, medium, long like every pair, and in BOTH directions up or down.
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