The pitchfork shown in the chart is constructed with a variable anchor, using the .25 of the range of the huge bar. The price seems docile in the channel, and it will be so until a strong reaction point is reached. Due to the ambiguity discussed in the monthly analyses, pinpointing the exact location of that point will only be possible after the reaction is actually seen. Because of this, I will only be a watcher of this pair. Stoch has just been undergone a bearish crossover, indicating that it wants go to the oversold zone. But the price target for that to happen is so tight; another reason for no action.
There are enough number of instruments in the market for which both weekly and daily arrows point to the same direction, and as a not-very-strict rule, I trade only those pairs.
There are enough number of instruments in the market for which both weekly and daily arrows point to the same direction, and as a not-very-strict rule, I trade only those pairs.
