Sir I see that 75.43 has been a maximum fall for the pair since 1990 ! Sir that is one amazing forecast but I would like to know sir how did you do that ? I mean 71.34 a number where price action has never been there ??
![Confused :confused: :confused:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
No need to be confused. It's magic. My charts are my magic ball. They say, "Pips and Tucker, come join me on a journey to 71.34. I want to take you to places you have never been before."
Now that I woke up, and I'm back to reality, I guess I should explain. The reason my S&R's were devised with my formula the way they were is they measure the range and cycles within the range. So, if I want to know where the market will be longer term, then the first thing I need to do is look at the overriding sentiment on the higher TF's--the weekly and monthly. It's very clear. They are in a very deep downward channel. The clouds are very low flying. Everytime price makes an attempt to move higher, it is strong rejected. All this adds up to the fact it is heading further south for the year. Now, the object is to know how far is this drop going to go. The clouds are not going to be a big help here in order to project where price will be, because they are on top of price action even into the future.
This is where my S&R's come in. They do measure the trend's range, as I have mentioned. That tells me with all the evidence the YS1 at 74.11 will be hit. Considering 79.65 is now a very strong cluster event, and it is also the YR1, that tells me it will contain to the north. For the most part in any given TF, there is movement of 3 reference points. That tells me the minimum objective is the YS2 at 71.34. Considering 71.34 is the area of the 50% mark of the decade's S1>S2, that tells me do not stay too comfortable in any shorts once arrived at that point.