Dear: Sir, David
Horton
I am glad to be
asked as below question of (EURGBP)
As long as I know
about your requisition, I would unpretentiously explain my idea (EUR/GBP).
But sorry for my poor English sine I am a Korean,
English is forever alien to me
Having forgiving intention of my poor English,
you may obtain what you want to look for
At any rate
This is what you asking for
Here you said it will be uptrend?
If you are talking about long terms view, supposing
that you might be looking at monthly chart. Indeed sir! You are light It is preordained to
shift heavily gravity from downtrend to uptrend.
By and large I agree with you except you calculate
too earlier to profit it
The difference between you and me are:
When it will be happened to and how come?
The answer is the downward is supposed to
stop at the point of 0.77868 on the condition of prior settlement as below of monthly
chart but not 0.8262 point which you pointed ( I mean if you mention to big
wave and long terms of monthly chart)
If you have same frequency and protocol
with me, let us skip the meaning of monthly chart, because you have known what
size, what displacement of it. Even I presume that you know the meaning of 1
and 5minte chart and even 30 minute chart.
To make long story short answer, the downward
is supposed to stop at the point of 0.77868 on the condition of prior settlement
How?
Because of monthly and daily chart is
insinuating the movement?
Let me tell you the prior settlement, step by step.
Monthly chart
of EUR/GBP
①
is stochastic for 5ma (moving
average) see the double top signal
②
is same index for 10ma as precede
signal as 1~2 candles earlier than 10ma.
③
is expected with the shape of ①. Yes it is the divergence or double top or W pattern of index. But it
does not look like ① yet. Therefore you wait when ③ looks like ①
④
is also the oversold stage. therefore
if you are intraday or scalper you may enjoy of this down trend until the previous
lower point (0.77868)
⑤
is the previous lower point (0.77868)
which I presume it’s adjustment
⑥
is the signal for you to entry
for long terms view investigation. Dear Sir! Could you see the inside of circle
and, Indigo
blue line (10 ma) which is last blow single of down trend. Hence I wish you to jump in when
it is golden cross between 5ma and 10ma. Whenever candles are settling on those
moving averages, you will be safety stage of uptrend.
Conclusion
of monthly chart:
The gravity of downtrend is heavy so that “one
swallow does not make a spring”
Please respect the trend
And do not defiance against trend until new
starting of uptrend. Especially if you are very conservative long terms trader,
wait the shape of⑥
Daily chart
of EUR/GBP
Let us zoom in and see more detail inside
of monthly chart by Daily chart.
I overlap another index, Bollinger bands to
see when the corrective wave is happen.
It may be useful information for intraday
traders seeking for 5 days candle movements
Actually it is huge money even if daily
chart’s size and its wave and displacement because of the result of the leverage
Anyway here is sequential movement daily
chart
You may enjoy down trend not from now but a
week later
It is supposed to rebound up to yellow line
of 20ma
And then
It is downtrend again because it is attribution
of “the power of trend”
You may enjoy it until the end of signal ⑥
of monthly chart.
Nevertheless
You may be interesting in size of its
fluctuation and displacement but not far away from now on
Sequentially I will illustrated it again
①
is 20ma yellow line which is
reacting as a resistance line
②
is just normal trend line which
is reacting as a supported line
③
is Bollinger band signal of “^”.
When is happened to inversed signal of “V” or “^”, the candle will be about to
act the corrective movement at least 3 candles up.
④
is what I am waiting for “^”signal
same ③. As soon as you see the signal you would
better enjoy the rebound up to the level of ⑤
⑤
is previous higher point which I am
expecting with rebound, slightly lower than this level I guess.
⑥
is date when I write and post it on
my Blog so that it will evidence when I write a book as real time analysis for
my future job.
Conclusion
of Daily chart:
I have explain only size of wave, monthly
and daily
If anyone wants to know more specific or
detail, you have to process what I have shown you. Because the wave of charts
are absolutely same process and same methodology but the difference are size of
wave. I wish you to keep going on as same way, as using 60,30, 5 or even 1 minter
chart.
Thank for listen to my poor English
Yours odyssey lee
