General possibilities and future outcomes.
Using only Support + resistance, with trend lines.
Support + resistance colour : Blue
Trend lines colour : Yellow
Predictions for price action
-----------------------------------------------------------------
If you are to follow the red arrows i believe a clean break
of the first trend line B and also the support + resistance
line at 1.29499 will call for alot more Bearish action to come
taking price right back down again.
-----------------------------------------------------------------
By following the light blue arrows i would suggest a quick short
then back to the current price for more support + resistance which
is at 1.30466 and from then on who knows....
-----------------------------------------------------------------
Finally, the green arrows. If price is to continue rising by breaking
support +resistance line D to 1.31105 i believe we would be expecting
a large amount of buying pressure going into mid September and price
would rocket.
-----------------------------------------------------------------
Please comment with your predictions or any other comments you may
have.
I personally will be going short expecting to take profit around the
1.28000 mark HOPEFULLY,
Would just like to say i am completely new to fx and i would appreciate
any suggestions + help.
Thanks.
Happy trading!
Jonny P
Using only Support + resistance, with trend lines.
Support + resistance colour : Blue
Trend lines colour : Yellow
Predictions for price action
-----------------------------------------------------------------
If you are to follow the red arrows i believe a clean break
of the first trend line B and also the support + resistance
line at 1.29499 will call for alot more Bearish action to come
taking price right back down again.
-----------------------------------------------------------------
By following the light blue arrows i would suggest a quick short
then back to the current price for more support + resistance which
is at 1.30466 and from then on who knows....
-----------------------------------------------------------------
Finally, the green arrows. If price is to continue rising by breaking
support +resistance line D to 1.31105 i believe we would be expecting
a large amount of buying pressure going into mid September and price
would rocket.
-----------------------------------------------------------------
Please comment with your predictions or any other comments you may
have.
I personally will be going short expecting to take profit around the
1.28000 mark HOPEFULLY,
Would just like to say i am completely new to fx and i would appreciate
any suggestions + help.
Thanks.
Happy trading!
Jonny P