EURUSD - More Upward Pressure Likely for the Near Term
Hi Everyone! Simply wanted to point out EURUSD appears to be on its way up to the Aqua and Orange Bollinger Band range at a minimum. We have approximately an 80 to 85 percent chance of reaching that range for the near term. Keep in mind, this is the DAILY (24h) TIME FRAME. I have not gone into lower time frames to identify a price point to open a long position if one has not done so already. I will follow up with a short video to see if we can find as safe of a price point as possible to open a long position. So, this is labeled a LONG position for the near term.
This is ONLY my opinion and not trading advice. NONE of my ideas are trading advice. I'm simply stating my opinion of what I would do if it were me. You're not me and I'm not you.
Happy Trading and Stay Awesome!
I'll create that video shortly.
David
This is ONLY my opinion and not trading advice. NONE of my ideas are trading advice. I'm simply stating my opinion of what I would do if it were me. You're not me and I'm not you.
Happy Trading and Stay Awesome!
I'll create that video shortly.
David
Komentarz:
Komentarz:
UPDATE:
The more I think about it, this actually makes perfect sense with the price action coming down again in the Daily. WHY? Because of how high the Energy is above the Green Line in the 2-Day and 3-Day time frames. If you remember correctly, we need the Green to be higher than the Energy to promote bullish sentiment; with an opportunity for repeated higher highs and higher lows.
The price action may very well go down to the Yellow Bollinger Basis in the 24 hour time frame at a minimum. We need more time to pass to see if the White Energy can fall below the Green Line in the 2-Day and 3-Day time frames. So, downward pressure is likely to continue once the Red RSI in the Daily (24h) makes contact with the Green Line WHILE the Green Line is going down. This may send the price action down to the Yellow Bollinger Band at a minimum. We will need to wait for further signal in the Daily, 2-Day and 3-Day before drawing a conclusion on if we should continue up for higher highs in the Near Term.
REMINDER: When I say, "Near Term..." that is referring to the following GROUP of time frames: 24h, 2-Day, 3-Day and 4-Day.
The more I think about it, this actually makes perfect sense with the price action coming down again in the Daily. WHY? Because of how high the Energy is above the Green Line in the 2-Day and 3-Day time frames. If you remember correctly, we need the Green to be higher than the Energy to promote bullish sentiment; with an opportunity for repeated higher highs and higher lows.
The price action may very well go down to the Yellow Bollinger Basis in the 24 hour time frame at a minimum. We need more time to pass to see if the White Energy can fall below the Green Line in the 2-Day and 3-Day time frames. So, downward pressure is likely to continue once the Red RSI in the Daily (24h) makes contact with the Green Line WHILE the Green Line is going down. This may send the price action down to the Yellow Bollinger Band at a minimum. We will need to wait for further signal in the Daily, 2-Day and 3-Day before drawing a conclusion on if we should continue up for higher highs in the Near Term.
REMINDER: When I say, "Near Term..." that is referring to the following GROUP of time frames: 24h, 2-Day, 3-Day and 4-Day.
Komentarz:
There actually is a decent chance for upward pressure to resume once again in the 3-Day time frame. How so? For one, we need the Green Line to go out to the side to allow time for the White Energy to fall below the Green Line. What are the odds of this occurring? I would say about a 60 to 65 percent chance at the moment. WHY? Because the Red RSI is currently above 50 in the 3-Day. However, we need the Red RSI to "close" ABOVE 50 to increase our odds to 70 to 75 percent. We would prefer the Red RSI to "close" ABOVE 56 to increase our odds even more of the Green Line going out to the side in the 3-Day to allow time for the White Energy to fall below the Green Line to set up for bullish sentiment in the 3-Day.
Keep in mind, in order for the Green Line to go out to the side (sideways), we need the price action to go sideways within a relatively tight trading range in the 3-Day. Well, judging by how tight the Bollinger Bands are getting in the 3-Day, we may get just that (sideways price action within a relatively tight trading range). Then when the Bollinger Bands finally do expand once again as a result of increased volume, we can expect the Bollinger Bands to expand once again. When the BB's expand again in the 3-Day time frame, the indicators will let us know if the price action will fall within the Upper Bollinger Bands or Lower Bollinger Bands.
Keep in mind, in order for the Green Line to go out to the side (sideways), we need the price action to go sideways within a relatively tight trading range in the 3-Day. Well, judging by how tight the Bollinger Bands are getting in the 3-Day, we may get just that (sideways price action within a relatively tight trading range). Then when the Bollinger Bands finally do expand once again as a result of increased volume, we can expect the Bollinger Bands to expand once again. When the BB's expand again in the 3-Day time frame, the indicators will let us know if the price action will fall within the Upper Bollinger Bands or Lower Bollinger Bands.
