That is how we see it, pretty simple. One can use ATR stop for stops (pretty accurate tool), which is based on average true range (the input can be changed). The broken demand line is more important than descending one (trendline value is measure by the number of consequent highs or lows above the extremums).
I saw some of you draw a descending triangle but by TD rules we can not make a triangle, because there is no relevant TD point below the top TD P5.
We have 2 horizontal levels below on the way which price has to get through (with struggle of course) and to retest those after the breaks (!).
DM projection sends price into the "free fall zone". We will see.
Good luck!
THIS IS NO FINANCIAL ADVISE. You are solely responsible for you trading decisions:)
Top Positive Correlation 4 hrs
1 EURUSD - NZDUSD 83.2%
2 EURUSD - AUDUSD 80.5%
3 EURUSD - GBPUSD 79.7%
4 EURUSD - AUDJPY 78.2%
5 EURUSD - US2000 75.8%
6 EURUSD - GER30 74.9%
7 EURUSD - SPA35 73.7%
8 EURUSD - AUDCHF 71.3%
9 EURUSD - FRA40 70.7%
10 EURUSD - AUDSGD 69.3%
I saw some of you draw a descending triangle but by TD rules we can not make a triangle, because there is no relevant TD point below the top TD P5.
We have 2 horizontal levels below on the way which price has to get through (with struggle of course) and to retest those after the breaks (!).
DM projection sends price into the "free fall zone". We will see.
Good luck!
THIS IS NO FINANCIAL ADVISE. You are solely responsible for you trading decisions:)
Top Positive Correlation 4 hrs
1 EURUSD - NZDUSD 83.2%
2 EURUSD - AUDUSD 80.5%
3 EURUSD - GBPUSD 79.7%
4 EURUSD - AUDJPY 78.2%
5 EURUSD - US2000 75.8%
6 EURUSD - GER30 74.9%
7 EURUSD - SPA35 73.7%
8 EURUSD - AUDCHF 71.3%
9 EURUSD - FRA40 70.7%
10 EURUSD - AUDSGD 69.3%
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