what loss? in the region of 3162-3175 we find strong SPPT:
- we have a bullish crab pattern with price completion just a little before fib ext 261.8
- this coincides with fib node 61.8 from the previous rally from 2975/83
- and 38.2% fib node of rally from 2625
- DP S3 at 3194
- and slightly above that on daily, we have DMA 25x5 providing SPPT.
- 2 drive of 3-drive sell just completed on daily with AB=CD fib ext 100 target at 3690 and 127.2 at 3829
- finally, we have 61.8% node at 3698 of move from 4364 on monthly (50% node at 350x where also 38.2% node of move from 48987 can be found)
- AND 3690 is where the mid Bollinger Band on monthly is, and as we know, price always comes back to the middle after swinging )
i say: build up your long position because 3580/3600 is the next TP
and am gonna put my neck out for eur/jpy too: another 250+ drop waiting to happen
(which one happens first, no idea
)
