EURUSD looking like northbound with Power, my analysis explained
Following on from my previous chart. (see below link), I had predicted a rise then a fall to the present price, this didn’t follow the prediction as it did not rise just continued to drop, this drop was shown in the chart but not as the predicted path. I decided to find out why the continuation happened and found the solution looking at previous dates.
My previous analysis does stand ground as good; even so thought would give more detail this time to my analysis should be noted if it was to continue south I see 1.04000 being hit without much support, that being said intelligence and knowledge would suggest not, but when in trading is intelligence worth credit, knowledge YES.
Analysis: Note bold red line left is a clone of right, this is where I see a correction required, because of the differential between the drop, blue arrow and the highlighted circle, this is then forwarded in my strategy to present chart, the fractal presentation reflects previous trends and although I have allowed for a possible 1.2700 have also considered strong resistance levels hence the peak of 1.1600 before moving south
My previous analysis does stand ground as good; even so thought would give more detail this time to my analysis should be noted if it was to continue south I see 1.04000 being hit without much support, that being said intelligence and knowledge would suggest not, but when in trading is intelligence worth credit, knowledge YES.
Analysis: Note bold red line left is a clone of right, this is where I see a correction required, because of the differential between the drop, blue arrow and the highlighted circle, this is then forwarded in my strategy to present chart, the fractal presentation reflects previous trends and although I have allowed for a possible 1.2700 have also considered strong resistance levels hence the peak of 1.1600 before moving south
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