Now I know this is a messy chart but let me explain it. So the market is an algorithm and sometimes has cycles, thats where the vertical lines come in and the one horizontal red line in the image. That red line measures the amount of time it took EU to rally before (from the first vertical line to the second). I placed the red line between the second vertical line and third vertical line because i am anticipating this cycle. Where price is currently i think it will either make a double bottom or a "stop hunt" then go higher. The cycle technique is easier seen on the daily.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.