TREND
Price is in uptrend, though its pretty MESSY. The most UGLY price action in EURGBP history.
Long bias remains - halfyearly MA crossed above yearly MA. We should make a new HIGHER HIGH.
The only moving average that make sense out of all this is Tilson MA, which has the best smoothing.
I tried to apply emas, vwmas but they are not of much help.
PRICE ACTION
In terms of price action, we might fill the small gap to the downside, though not guaranteed. The shelf that price rejected from 2 days ago - might be "that is it".
I would place a stop below weekly Camarilla opening range S1 and attempt a long here as in the past Monthly Tilson MA of 21 days acted pretty well as dynamic support in uptrends.
I would target current weekly Camarilla R5 which makes new higher high. It is also point of release from the past.
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If I am wrong - we fill the small gap to the downside to its point of release and see a reaction at half yearly MA.
FOR EDUCATIONAL PURPOSES ONLY.
Price is in uptrend, though its pretty MESSY. The most UGLY price action in EURGBP history.
Long bias remains - halfyearly MA crossed above yearly MA. We should make a new HIGHER HIGH.
The only moving average that make sense out of all this is Tilson MA, which has the best smoothing.
I tried to apply emas, vwmas but they are not of much help.
PRICE ACTION
In terms of price action, we might fill the small gap to the downside, though not guaranteed. The shelf that price rejected from 2 days ago - might be "that is it".
I would place a stop below weekly Camarilla opening range S1 and attempt a long here as in the past Monthly Tilson MA of 21 days acted pretty well as dynamic support in uptrends.
I would target current weekly Camarilla R5 which makes new higher high. It is also point of release from the past.
====
If I am wrong - we fill the small gap to the downside to its point of release and see a reaction at half yearly MA.
FOR EDUCATIONAL PURPOSES ONLY.