My belief for this pair is that price will continue down into the stops of long consolidation periods in January and December. When I see long consolidations, I see very impatient participants. So far buyers been in heat from a down move that lasted 3 weeks. Price is reaching my levels. Truth is that the market may not care about my levels. And that's fine. Maybe it's not meant to be. All I know is that the closer it gets, the higher the probability of it hitting them. So I'm only interested if they are reached. When they are reached and worked down thru, I know that panic is ramping up and I'm paying attention to the large timeframe pattern. My drawing is an overall idea of how I think it will play out so
don't take it as a 1:1 ration prediction. I also approach this as a long and steady outlook. Price could easily collapse down but I think it's more likely that the low will be worked long and steadily. I'm not into what's going on with the news, what indicators are showing, whether price action looks weak or strong, and I don't do support/resistance lines. My predictions are based on what I perceive to be more financially adventitious for institutions and right now I see a ton of money below. When everyone is calling a bottom right at or near already established ''support'' my comfortability is much more deeper.
EURUSD
don't take it as a 1:1 ration prediction. I also approach this as a long and steady outlook. Price could easily collapse down but I think it's more likely that the low will be worked long and steadily. I'm not into what's going on with the news, what indicators are showing, whether price action looks weak or strong, and I don't do support/resistance lines. My predictions are based on what I perceive to be more financially adventitious for institutions and right now I see a ton of money below. When everyone is calling a bottom right at or near already established ''support'' my comfortability is much more deeper.
EURUSD