DislikedRelative to where were sitting on the quarterly, imo, again this is just my opinion. From the Quarterly Chart perspective. We ended the quarter above the QVAH @ 1.40065 "above value" "Overvalued" "Overpriced". If I feel that price will be higher in the future and I need to buy in bulk, I need to buy at a discount, "on sale". If I was trading this Quarterly TF where would prices be "on sale" ? "Below Value".
We seem to be forming balance. I merged the 2 Quarters and from the merged profile we closed inside value. Until we can hold a...Ignored
No problem with your analysis, but that's what I would call medium-term, as described in my post #1136 a week ago.
My long-term analysis starts from the macro-event of the G7 meeting in April 2006. The VAH, VAL and POC of the period since then are 1.4240, 1.2510, and 1.2820 (marked red, red, and green in the chart). The next few "local POCs" above are at 1.3600, 1.4720 and 1.5580 (blue in the chart).
So from that perspective still within value, and in that context the break of 1.40 at unprecedented volume followed by two weeks of confident buying around 1.4050-80 is an indication that a long-term event in the form of a break above 1.4280 may be about to happen.
Such a break could be followed by a strong rally to 1.4720 in the first instance, which would be a major opportunity.