Poll, Have the long term trends changed?

Well it seems we have found support on the 50% line from the long term trend. It will be interesting to see if we can break below this or if this was just a correction. Please share your opinion so I can take your money

It depends how one defines "long" term trend. For many, they are thinking what they can see on a 1 hour chart, others in a daily.

Personally, my forex interpretation of LONG is seen in a MONTHLY chart, or at least a WEEKLY chart so that it covers no less than 5 years. Although I follow some very long term charts back to 1790 - that completed on Equities cycle in 310 years. My mentor has postulated data for several thousand years to measure socioeconomic cycles.

The USD Index chart for the past 5 years is still in a down channel. The past 6 months has only been a wave 4 correction, with a new low expected this winter, according to Elliott wave favored count. Even the tech crowd should look at a James Chen weekly chart to see if the channel has been exceeded.

Wow. Now that is long term. What time frame do you trade on? The century TF? And I thought monthly was long term.

For EUR/USD - I start the day by looking at the weekly chart to see the big picture, since that is what rules the smaller time frames. It is just a good idea to be reminded about where the market is at to neutralize bias.

I monitor changes in 1 or 4 hour, otherwise my eyes don't see much movement. I prefer 30-60 minute view for counting wave action, and may drop down to squished 5 min to examine waves that are hard to tell what happened.

Tonight I will watch Euro carefully for a long entry, I am looking for a small 3-wave correction from the 5-wave wave change of direction on Friday. Trends are in 5-waves, corrections are in patterns of 3-waves, and it is all fractal, from 1 minute to 100 years.

trends always change from year to year

For the safest answer,
I'd say maybe

..to USD strength, after the horizontal line support on weekly was broken. (around 1.5350-1.5400) Time will tell how the trend goes.

I don't know about the rest of you, I look long term to make short term trades. Reduce the risk and maximize the profits.

In answer to the thread question: This was a correction in the bigger picture. Can't go up forever! Nothing moves in a straight line here either.

damn, i like burritos too....

but i could only vote once...

Too early to tell.

It may turn into a sideways trend in a few days or next week for all we know and then go back to its original trend.

The obvious answer couldn't be clearer to even the greenest rookie n00b.......................................................................


............burritos, of course!:nerd:


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Looks like its going to be sideways atm. This is exactly like last week, but a little different of course, but the same, everyone was saying go long, and look at what happened.

It's a multiple choice poll. So you can vote for burritos if you like.
Let me define the trend. Look at a monthly chart. That is the trend. Has it changed?

Edit. Oops, I guess you can only vote once.