eurusd as we go into nfp
in a downtrend within a consolidation
H2 data
support is at 1.2990 area then plenty of horizontal support from early june
trend res is at 1.3170 and 1.3080 areas,aswell as horizontal res
we could add a fib.but not really necessary.there is plenty of information from this chart
gbpusd
H1 data
shows the downtrend that started in mid june
it has 3 downlegs.the last started yesterday/Carney
so we can go to 5 min data and track that latest downtrend
catch a falling knife
you can...
how ??
on a 3 box reversal chart,if you think it has made a bottom or a top you can draw a 45 degree trendline from that top/bottom as a potential supp/res...only if there has been a reversal column made.in this case a column of "X"s
so on this chart,we have a potentail bottom.so have drawn a trendline/green.potential supp is at
118 area.we can then see how this minor uptrend seems
