This One Too Beautiful not to share
BREXIT volatility may be a wild ride, however it has unfolded technically perfect.
To fully appreciate this you should take a quick look at this chart first.
tradingview.com/chart/USDOLLAR/HgnzVEJN-USD-60min-22-06-2016/
This shows a perfect ellipse pattern we had been following the recent USD moves with and you can see it followed along nicely.
The current chart here shows the market completing the ellipse, coincidentally just in time for the BREXIT vote.. The market dropped right in to the indicated target and lifted out of the ellipse.
A lift out of an ellipse pattern IS expected once completed.
However the extreme volatility from the BREXIT is not normal.
NOTE however where this wild ride took the market. It lifts back to the ellipse's high, exactly where it is met by the unfolding expanding wedge pattern's resistance.
Too beautiful not to share!
I published my thesis paper through the IFTA, receiving my MFTA from them for this theory: that the market will move to areas of technical confluence. You can see it occurring at the bottom of the ellipse, exactly at the bounce (how did the market know? or the BREXIT know? chicken or egg?) and again where this wild ride lifts to (technical confluence). Although the market appears to be going "cray-cray" as I read from some chatters, IT MOVED TECHNICALLY PERFECTLY.
To fully appreciate this you should take a quick look at this chart first.
tradingview.com/chart/USDOLLAR/HgnzVEJN-USD-60min-22-06-2016/
This shows a perfect ellipse pattern we had been following the recent USD moves with and you can see it followed along nicely.
The current chart here shows the market completing the ellipse, coincidentally just in time for the BREXIT vote.. The market dropped right in to the indicated target and lifted out of the ellipse.
A lift out of an ellipse pattern IS expected once completed.
However the extreme volatility from the BREXIT is not normal.
NOTE however where this wild ride took the market. It lifts back to the ellipse's high, exactly where it is met by the unfolding expanding wedge pattern's resistance.
Too beautiful not to share!
I published my thesis paper through the IFTA, receiving my MFTA from them for this theory: that the market will move to areas of technical confluence. You can see it occurring at the bottom of the ellipse, exactly at the bounce (how did the market know? or the BREXIT know? chicken or egg?) and again where this wild ride lifts to (technical confluence). Although the market appears to be going "cray-cray" as I read from some chatters, IT MOVED TECHNICALLY PERFECTLY.
Andrew J.D. Long, MFTA
MATASII.com
MATASII.com
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