I am doing an update on the previous EURUSD sell signal slightly moving my Target higher at 1.08300.
So far both the long term (1D chart) and short term (4H chart) indicators and patterns have provided accurate entries as seen by the following ideas:
At the moment the new Channel Down is on the consolidation phase around the 1D MA50 (blue line as seen on the chart). The Lower High on the 1W Channel Down is in, so technically the price should decline towards a new Lower Low.
Based on the relative % drop from the Lower Highs, the next Low is estimated at 1.08300.
Great tracking so far. FYI there is a 2017 gap at 1.07420 that has not been filled. Do you incorporate gap closures as part of your TA?
TradingShot
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@dane4, Thanks. Yes I do incorporate gaps but only on shorter time frames. But it so happens that 1.07500 is the next Lower Low target zone on the 1W chart.