I guess it may be a good idea to go short on eur/usd in case it breaks the fork to the marked region
I guess it may be a good idea to go short on eur/usd in case it breaks the fork to the marked region
GBPUSD 4H upgrade.
Charting upgrade since last post: Purple fork invalidated from the beginning and a new green fork rather than the previous one.
I know that almost everyone is calling the topping of EURUSD/GBPUSD but that which I see are just two up sloping forks.
Truth is 1) price has reached the top of the green fork and two ) at the previous two market days (friday and now ) it failed to reach the ML of the blue fork finishing the blue fork could very well be violated on the disadvantage, thus a topping could really be in this region. But not a trend reversal, at least not yet.
GBPUSD update.
Charting update since last post: Added Brown fork, it includes the latest move up.
There was no shirt, if all forks are up-sloping it wouldn't be a good idea to short, after all it means that price is traveling up.
Original fork still holding. Looks as if it will need to break shortly?
Gordon
1 Attachment(s) From now on I have decided to place this pitchfork research time into Action/Reaction pitchforks just, thus from now on I will take into account just pitchforks who is ML is acting as S/R trendline. I'll ditch any fork for the time being. Applying this thought I will attempt to spot the past pivot's area before it's forming.
GBPUSD 1H chart attached.
On one note, the last USDCAD and EURCHF analysis from a couple of days both failed.