Since I'm a new student of forex,I might not have all the correct terminology about indicators and patterns yet.....what I'm calling a triangular terminal.....maybe is what youre calling a flag. in fact it looks like a flag. ....right here at 1.56 80....and it extends into the new york open in some degree,fading down as it does.
The trendlines I saw are right on top of the current PA and slide down to the 1.56 40 area, and down further as new york opens. If the big move happend to crash down, I would estimate 100 pips from 1.57 to 1.56,around the London open....but if that doesnt happen and the sideways table continues into new york opening....then the crash,if it hhappens (I call it a crashing,.... sorry,I gota learn the lingo...)the falling knife... could go down to 1.5530 area.
I know this exercise youre all doing is about fast trading in the 1 minute. I dont want to sidetrack your focus at all....I was just offering my take on the trendline analysis I was doing for the day. which seems to show the day might be part of the bigger trend,a monthly trend...from the whole wave started on Feb 7.
thanks for the info CVDS,I'll try to learn that. I know what 'alt' is....whats that other thing 'alt+ ...????
Tom