Elite, what are your views concerning these pairs
- Thread starter MarketMovers
- Start date
its at the bottom of the chart. the candles will bounce off the date axis.
I say trading range, important price level.
Simply ask the blind.
Even the blind can see it is on the downtrend.
It will be on the downtrend until the chart says otherwise.
Similarly, EUR AUD JPY are also on the downtrend.
The thing with reversal patterns, H&S, Wedges, DT's, DB's is they have the potential to reverse. They can just as easily evolve into a trading range or in the case of your example, form a flat base bear flag and continue down. Good risk/reward as a tradeoff for likelihood of successful reversal. As always, never marry a position, anything can happen and you need a plan.
