EURUSD 60 MIN Low is likely not in ( by a lot)
Jenner Divergence Corollary on CCI (copywrite 2007, 2009) is telling us that even though EURUSD reached down to 314.6 % 1.12154 at 16:50 GMT (of 100% Feb 28 to Mar 1 drop), most likely the low of the whole move down is not finished.
Some traders are exiting now at 314%, because they wonder if the low is in. Some may hold for 423.6% at 1.11442. But only CCI has a clear voice, which says that because CCI has not yet had a divergence since the CCI low at 13:00,
1) it is very unlikely that the overall low is in.
2) Whatever the price was at the 13:00 GMT CCI low (-532.2) , price was 1.12542,....that price will likely be revisited , but AFTER CCI forms a divergence.
3) Before the final low of the downmove, most likely we first need to see a divergence on CCI, then a retest of the price low.
unless the upmove will be powerful ( crossing the zeroline before retesting price low)
This is possibly the most powerful thing that CCI can offer, offering more assurance, guidance than price in many cases
Some traders are exiting now at 314%, because they wonder if the low is in. Some may hold for 423.6% at 1.11442. But only CCI has a clear voice, which says that because CCI has not yet had a divergence since the CCI low at 13:00,
1) it is very unlikely that the overall low is in.
2) Whatever the price was at the 13:00 GMT CCI low (-532.2) , price was 1.12542,....that price will likely be revisited , but AFTER CCI forms a divergence.
3) Before the final low of the downmove, most likely we first need to see a divergence on CCI, then a retest of the price low.
unless the upmove will be powerful ( crossing the zeroline before retesting price low)
This is possibly the most powerful thing that CCI can offer, offering more assurance, guidance than price in many cases
Komentarz:
See 2) above:
2) Whatever the price was at the 13:00 GMT CCI low (-532.2) , price was 1.12542,....that price will likely be revisited , but AFTER CCI forms a divergence.
That happened today, shown in this chart
2) Whatever the price was at the 13:00 GMT CCI low (-532.2) , price was 1.12542,....that price will likely be revisited , but AFTER CCI forms a divergence.
That happened today, shown in this chart
Komentarz:
Hang with me here, large commercial traders
For 13 CCI I have -315.7
Do note the caveat on 3) above