As per my Weekly Forecast, I said this pair would find a bottom this week around .8504, but instead it was .8528. I jumped on its back as soon as I woke up this morning. I was posting what was going to happen. I thought it was 2 minutes. It was actually less than 1 minute that thing hit my TP for 50 pips. I like those kind of trades where I do not have to work for my money, but I still prefer the more conventional methods.
The reason the higher TF's have gone sideways of late is because they are on a collision course. The weekly still wants to go north, and the daily wants to go south, and the monthly could care less.
The lower TF's are the ones having their fun. They are saying, "C'mon boys! Let's go south. They hit their destination, then they say, "Let's make a u-turn and go north." They are just having a good old time.
This pair is showing that it is not always wise to confer with the higher TF's for trend indications, but the lower ones.
Eventually, it will be the monthly to make up its mind which way it wants to go, then will break up the squabble the weekly and daily are having.
I have been observing eur/gbp lately !So many pairs gets me confused!
the weekly and the monthly charts have started a consolidation period, to much sideways movement on the top of the clouds stoch is going neutral! H4 is having a nice time on the top of the cloud while daily is bearish but above the kinjun! I would say it is till bullish but the bull momentum is giving out! what do you say mr paul?
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