DislikedLast week I presented my triangles theory about this pair.The price hit the confluence of 2 triangles,yesterday closed as hanging man and today(not closed yet) is a rejection (could be a beob,will see) from the confluence.For me is the first sign that the price could take a down direction.On my data I have a stong SR level at 1.64.I will wait to see what will happening at 1.64 and if PA will show me some dowm move I will take it,looking to 1.59-1.60 with a station at 1.62(but all depends of PA).The boss shows LH,LL.If the price can't go under 1.64,I...Ignored
You are doing a half assed analysis. Always start with the Big Boss then the Boss and finally the Worker.
The Big Boss, just like EURJPY, has found support at the 78.6% critical level meaning that it is still technically in the uptrend from Jan 09.
The Boss is also in an up move.
The Worker might look like it wants to move down but it is fighting its Bosses.
You should only trade the Worker in harmony with its Bosses otherwise you will endure some very erratic trading.
15 YEARS OF PASR ON FOREX FACTORY!