1. Very strong confluence of time, price and momentum. Price was rejected at this angle.
a. This is also the end/beginning of a new Gann time cycle.
b. Clear divergence on the RSI.
2. Price rejected at this strong angle.
3. VAP shows weak volume.
We had a strong push on the EURUSD pair during the US Thanksgiving holiday. Volume was naturally weak and as is common during these major holidays. What is also common is direction is usually one way: either ranging or trending up/down with no competing direction.
a. This is also the end/beginning of a new Gann time cycle.
b. Clear divergence on the RSI.
2. Price rejected at this strong angle.
3. VAP shows weak volume.
We had a strong push on the EURUSD pair during the US Thanksgiving holiday. Volume was naturally weak and as is common during these major holidays. What is also common is direction is usually one way: either ranging or trending up/down with no competing direction.
Note
Divergence playing out nicely, rejection at this resistance area and angle in time. Note
Continuing downslide momentum, watching for action at next angle. Note
Highlighted box area is a confluence of time, price and momentum. I anticipate a move to the 1.179 area with a bounce back to the 1.1825 and then further down. Note
After the false ABC news report and tax passage, I anticipate significant downside this week, greater than 200 pips.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.