I read your analysis and appreciate that it happnes most of days.
But of late you will agree with me that technicals do not drive the market but the price moves based on just roumour mills and news.
Technically the price tried to test 1.3550 levels first today as you indicated but it failed at 1.3540 and dropped to 1.3450 level by the time I am writing.
In my opinion it is ragnge bound and neither sellers nor buyers have upper hand due to roumour mills. What I can see is that the price tried to correct more than 1.3550 four times and each time it failed. But untill now 1.3430/20 is still holding before breaking. May be today in asia ? I will write further after it happened.
Yes, guys, probably you're right. Now it becomes to look like triangle/pennant on 4-hour chart.Is this a bear flag in formation on the EURUSD? A continuation pattern signaling a further decline?
Hi Rashidin,Hi Sive,
I just want to have your opinion on this trendline that I draw on daily timeframe. For me, we are at critical point now. If market will be able to break this trendline, then we could see further downmove. But will market respect it based on current scenario?
Thanks and Best Regards.
Roger, Sir. Glad to read your reply. You are good teacher to me.Hi Rashidin,
well, since this is just 2-dot line, it's difficult to say that we're at critical point.
For that purpose we need at least 3-dot, as I suppose.
Hey Sive i'm curious about one thing. How come you have 7 bars per day on 4-hour chart? For M6E (Euro FX micro) I have 6 bars per day and the last one is only 3 hours long since market is closed from 17 to 18 NY Time. That changes a little bit the panorama, but sometimes a lot, for example on this week DRPO LAL, I've gotten the first confirmed penetration of the 3x3 4 hours later than you did. :err: Have a good weekend master!
Yes, 1.3630 is probable, since this is Agreement. But, very probable that market will show just shallow retracement and continue move down.Hoping for 1.3650 Area again for sell ... :nerd: great analysis for this week.. sive sir.. thanks for Guide us