As the part of any natural process, market quotations have a cyclical character. Trend cannot avoid pullbacks, corrections, final phases, reversals and flat periods.
Not only definition of current status of market is important for a trader. “Prediction” (or, which is more precise, anticipation) of coming mood of any traded instrument is important too. What is crucial is to find a trading decision that will work exactly for you with the best possible estimation of risk and profit.
Method of Alexey Panasenko has proved itself as an efficient way to estimate status of market and find reliable trading recommendations. The author has been working with his own trading system for a long time and this system combines price action method with overlapping of Gann swings to the chart.
| 2015 | EURUSD | GBPUSD | USDJPY |
| 06 November | Daily chart: there is a feel that yesterday it was a local swing bottom from 1.0814. It lets bulls to conduct a safe correction up for the downward trend. But the data NFP may break yesterday bottom and thus the swing down will be on to the 7th figure. Although. the correction to 1.10 would be optim | Daily chart: a potential Low is located in 1.5106 area (a very strong support here). But today’s news can impact on the price. If you see a buy signal today, you had better use it near 1.5106 level. Long orders are likely to be successful. H1: There is a very long downward swing. The pair needs some | Daily chart: if bulls prevent bear’s bar in the end of upward swing, then there will be a strong increase here. In other case, there will be a strong downward trend i.e. upward structure allows decreasing till 120.23. It’s last Low. H1: buyers have local problems here, because of hour IB at the end |
| 05 November | |||
| 02 November |
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