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2 scenarios a bigger correction almost end or continue to descend
pants
Why bother posting if you have nothing useful to say?
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cmc
pants
@pants, it is not my fault that you do not know how to read. This is a decision area (yellow rectangle)
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pants
cmc
@cmc, and you are confident that the pair will hit your narrow decision area based on what exactly?
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cmc
pants
@pants, if the price takes it up, we have a start of an impulse up, at least one abc. If the price goes down and make new lows,will continue the trend started in September 2017
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pants
cmc
@cmc, that's not what I was asking. I'm saying how do you know the price will hit 1.171 within your specified time frame. For all we know it'll go up from here and hit the top of the current downward channel (but not my expectation).
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cmc
pants
@pants, I assume that wave A = Wave B 100%
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cmc
cmc
@cmc, sorry, the correct image
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pants
cmc
@cmc, I see. Thanks for taking the time to engage and explain. Personally, I think down is more likely for several reasons... consecutive lower highs, downtrend since early September (as you pointed out), and head-and-shoulder pattern since early July. If the pair goes up, I don't think it will go as high as you have drawn (I expect the pair to stay within the current downward channel, forming yet another lower high). Good luck.
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cmc
pants
@pants, Very accurate what you said. It's one of two scenarios. Good luck!
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cmc
pants
@pants, Be careful, it's my opinion, that does not mean I'm right. I told my opinion and that's all
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