Forexmate, let me first roll out the proverbial red carpet and say welcome to the forum. I was thinking that our little suaree should be so honored by your 1st post.
I'm sure you have also read I invite all questions, comments, and even disagreements (I could be asking for trouble on the latter, but that invitation is also there.)
You might remember when I talk about the most dominant TF's. You may also remember how I talk about certain characteristics and the language each TF might be speaking. Obviously, and for all practical intents and purposes, when the candle is under the cloud it says the market is bearish and when it is above the cloud it suggests the market is bullish. Now you might think I totally lost it, but with all that information together, it was strongly obviated what was going to happen with this pair. Let me go in reverse to explain:
Daily: It moved south towards a very fresh bullish cloud. It suggests containment, which means it would reverse back to the UP.
4-hour: It hit the abyss. It ranged so far away from the cloud that the equilibrium was knocked out of whack. It could have a strong move north of 220 pips and still be bearish on that TF.
Hourly: With what we see happening on the 2 big boys. It is then obvious what has to happen on this TF. It has to move up to the cloud, through the cloud, and out the other way. You notice how the hourly was also fresh, but it challenged the cloud, then eventually broke through.
Good question, Mate. I invite you to keep bringing them.
I'm sure you have also read I invite all questions, comments, and even disagreements (I could be asking for trouble on the latter, but that invitation is also there.)
You might remember when I talk about the most dominant TF's. You may also remember how I talk about certain characteristics and the language each TF might be speaking. Obviously, and for all practical intents and purposes, when the candle is under the cloud it says the market is bearish and when it is above the cloud it suggests the market is bullish. Now you might think I totally lost it, but with all that information together, it was strongly obviated what was going to happen with this pair. Let me go in reverse to explain:
Daily: It moved south towards a very fresh bullish cloud. It suggests containment, which means it would reverse back to the UP.
4-hour: It hit the abyss. It ranged so far away from the cloud that the equilibrium was knocked out of whack. It could have a strong move north of 220 pips and still be bearish on that TF.
Hourly: With what we see happening on the 2 big boys. It is then obvious what has to happen on this TF. It has to move up to the cloud, through the cloud, and out the other way. You notice how the hourly was also fresh, but it challenged the cloud, then eventually broke through.
Good question, Mate. I invite you to keep bringing them.
