Can escape the range that lasts more than two years?
Updated
It have temporarily updated the latest low of 0.74126 this week.
Recently, the resistance line works smoothly and it goes down one step, so if you go as it is, it will be the trend price since 2015.
Weekly chart
There are four lines that become the barrier. (There are many)
1) MPP (S2) 0.73356
2) YPP (S1) 0.72900
3) MPP (S3) 0.72586
4) Horizontal line near 0.71500 (0.71589 on my chart)
Penetrating through these in order and receiving resistance will be a downtrend.
However, even if it comes down trend, it will take a lot of time.
There is also the possibility of lowering slowly so that it is not a trend.
Because, as you can see from the past chart, AUDUSD is easily blocked by YPP.
Nevertheless, as you know, not to have a wishful observation, but to look at the movements at that time to attack areas where risk/reward is good.
Therefore, if keeping down this way, I think that it is enough to take into account only that it is wary of the long trade.
MPP (S1) 0.74517 is the key point for the latest opportunity seen on the 4h chart.
1) Confidence that MPP (S1) 0.74517 functions as resistance
Short, Target is above MPP (S2).
We will be careful of WePP that will be updated tomorrow.
If you are more confident of lowering above YPP (S1) 0.72900 = above Double Zero 0.73000 is also an option.
2) It is doubtful whether MPP (S1) 0.74517 functions as a resistance
If it goes above MPP (S1) 0.74517 and functions as support, I will long, otherwise observe it.
I would be grateful if you like it idea,give me follow or agrees!
------------------------- <Legend> --------------------------
Brown thick line: Yearly Pivot Points (YPP in the text)
Light blue thick line: Monthly Pivot Points (MPP in the text)
Green thin line: Weekly Pivot Points (WePP in the text)
Indigo thickLine: Horizontal line or Trend line seen by weekly or monthly
Indigo thin line: Horizontal line or Trend line seen by 4hourly or daily
Indigo dotted line: outstanding double zero
Red curve: EMA 20 close
Indigo curve: EMA 200 close
Green curve: EMA 800 close
Black curve: EMA 1600 close
x mark: Line which may not function
------------------------- <Legend> --------------------------
Recently, the resistance line works smoothly and it goes down one step, so if you go as it is, it will be the trend price since 2015.
Weekly chart
There are four lines that become the barrier. (There are many)
1) MPP (S2) 0.73356
2) YPP (S1) 0.72900
3) MPP (S3) 0.72586
4) Horizontal line near 0.71500 (0.71589 on my chart)
Penetrating through these in order and receiving resistance will be a downtrend.
However, even if it comes down trend, it will take a lot of time.
There is also the possibility of lowering slowly so that it is not a trend.
Because, as you can see from the past chart, AUDUSD is easily blocked by YPP.
Nevertheless, as you know, not to have a wishful observation, but to look at the movements at that time to attack areas where risk/reward is good.
Therefore, if keeping down this way, I think that it is enough to take into account only that it is wary of the long trade.
MPP (S1) 0.74517 is the key point for the latest opportunity seen on the 4h chart.
1) Confidence that MPP (S1) 0.74517 functions as resistance
Short, Target is above MPP (S2).
We will be careful of WePP that will be updated tomorrow.
If you are more confident of lowering above YPP (S1) 0.72900 = above Double Zero 0.73000 is also an option.
2) It is doubtful whether MPP (S1) 0.74517 functions as a resistance
If it goes above MPP (S1) 0.74517 and functions as support, I will long, otherwise observe it.
I would be grateful if you like it idea,give me follow or agrees!
------------------------- <Legend> --------------------------
Brown thick line: Yearly Pivot Points (YPP in the text)
Light blue thick line: Monthly Pivot Points (MPP in the text)
Green thin line: Weekly Pivot Points (WePP in the text)
Indigo thickLine: Horizontal line or Trend line seen by weekly or monthly
Indigo thin line: Horizontal line or Trend line seen by 4hourly or daily
Indigo dotted line: outstanding double zero
Red curve: EMA 20 close
Indigo curve: EMA 200 close
Green curve: EMA 800 close
Black curve: EMA 1600 close
x mark: Line which may not function
------------------------- <Legend> --------------------------
Note
It reached the limit without problems!
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