EURUSD still pointing downwards.
The pressure downwards persists while below 1.2967.
Current spot 1.2903 is not far from Nov. 22 buying. It would be a crunchy bite into longs from 1.2827 to 1.2846 and a galore of stops triggered much to the liking of the public. Things rarely go simple, though, and I dedicate this statement to pattern recognition lovers. It is totally unsubstantiated to distinguish some patterns and ignore the others. It is not only a statistical problem. The real problem is in the true nature of markets. You may try to falsify the conjucture that the set of patterns is infinite and no one is better than the other and I will be glad to live up to a proof that I am wrong. Patterns are certainly no invention of any human mind, though man created markets, alright. For certainly neither man had any real conception of the elaborate detailed designs that we see in financial markets.
Single top, double top, triple top, quadriple top... higher.
H&S, inverted H&S until further notice.
My new chaos findings implemented in forex trading
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GBPUSD M30.
GBPUSD M30.
Look at the galore of red prices this market returned to. Current mode is down.
Nothing is left from those early longs. Shorts are sitting comfortably on profit.
Look at the galore of red prices this market returned to. Current mode is down.
Nothing is left from those early longs. Shorts are sitting comfortably on profit.
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- gbpusd10.12.gif (54.87 KiB) Viewed 22980 times
USDPLN M30.
USDPLN M30.
The nearest determinants of USDPLN are 3.1966 and 3.1765. The market is bound to return to them in near future.
The nearest determinants of USDPLN are 3.1966 and 3.1765. The market is bound to return to them in near future.
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- usdpln 10.12.gif (43.45 KiB) Viewed 22901 times
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USDPLN plummeted.
USDPLON plummeted in accordance to the trigger down causing liquidation of long positions.
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- usdpln11.12.gif (40.68 KiB) Viewed 22809 times
SILVER M30
Silver M30.
32.52 broken meaning that it is poised to dip initially to 32.04, next targeting 31.27.
The nearest determinants are 30.98 from the downside
and 33.18 from the upside.
This market is going to be very volatile.
32.52 broken meaning that it is poised to dip initially to 32.04, next targeting 31.27.
The nearest determinants are 30.98 from the downside
and 33.18 from the upside.
This market is going to be very volatile.
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- silver15.12.gif (95.72 KiB) Viewed 22794 times
EURNZD M30.
This is not a very strong setup to the upside. First the buying area is tiny in comparison with the sellers' two blue areas
and secondly the two triggers up do not have big energy. I think that this situation is due to NZDUSD which uptrend shows no sign of respite and we need to see evidence of some weakness in NZDUSD if we want to count on a further EURNZD rise.
The risk is that EURNZD dips to 1.5342. It calls then for our reservation while the imminent determinants remain 1.5601 and 1.5518. In this range we may see nothing extravagant. Below 1.5469 means those longs are gone with the wind and a new leg downwards develops.
Those who had opened longs below 1.5487 need to understand that
some profit taking took place @ 1.5566, there was a reason for that and it continued for more than 10 hours despite a rally on EURUSD.
Those who sold there by chance need to be alerted by closes above 1.5601.
Their stops need to be right there, not more.
and secondly the two triggers up do not have big energy. I think that this situation is due to NZDUSD which uptrend shows no sign of respite and we need to see evidence of some weakness in NZDUSD if we want to count on a further EURNZD rise.
The risk is that EURNZD dips to 1.5342. It calls then for our reservation while the imminent determinants remain 1.5601 and 1.5518. In this range we may see nothing extravagant. Below 1.5469 means those longs are gone with the wind and a new leg downwards develops.
Those who had opened longs below 1.5487 need to understand that
some profit taking took place @ 1.5566, there was a reason for that and it continued for more than 10 hours despite a rally on EURUSD.
Those who sold there by chance need to be alerted by closes above 1.5601.
Their stops need to be right there, not more.
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- eurnzd15.12.gif (97.94 KiB) Viewed 22793 times
Merry Christmas & a Happy New Year!
Merry Christmas & a Happy New Year!
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