Before I dive into the analysis of this currency pair, a link will be sent out for those friends/members who have registered to join the upcoming Wyckoff webinar day before. If you haven’t received it by Tuesday morning, please let me know.
Knowing the position in the major/primary trend, as per the earlier post where this pair was covered in depth, I have lower my time frame to hourly where the chart is self explanatory not requiring any descriptive analysis.
What is the volume on each breakdown bar ?
Do we have an established down trending channel ?
What if the major support of the weekly chart ( earlier post ) breaks ? Even if it doesn’t, and the price action bounces of that level, is there a fair distance until it gets there if the view is short term (hours/days) ?
As always double click on the chart to enlarge it.
Chart is courtesy of tradingview.com .Why pay for charting software when you can get it for free ?
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