you might all think that the euro is a dog..pretty much rangebound since april 18.however,in a minor uptrend now..bounced off support on thursday hourly data 60 pips box size by 3 reversal
cable .gbpusd daily data a false breakout.the latest break has not been supported as yet looking for support on this chart for a swing long
panic stricken investors ran for gold last week thinking it was armageddon...lol they might be nursing a temporary loss this week just posting the dow chasrt to explain why price had made a breakout which was unsupported.the column of "X" did not retrace..just went up.therefore there was no support on this chart. a false breakout..a fake. . any bad news and the market tanked price is just back into support zone while the market has a rethink trend is down,but it is not a selloff..no break as yet of 10750 support area 10 min data.50 point box size
gold at a possible resistance $7 by 1 reversal could break out , to which the horizontal box count gives a target of 1905 area
so we had a falkse breakout in gold.the breakout column was unsupported so back into the support area for a rethink.these fakes are easy to pick up
dow..10min data a new potential false breakout formed..at some point it will need support to move upwards or back into support zone
dow. previous chart updated support was found at the previous breakout point...horizontal blue line which showed 11000-11050 area..so before market opene we had this pencilled in as a possible potential support area.previous breakout points/signal areas provide great clues.they do vary according to the box size,even if you use the same data set also used trendlines/45 degrees and columns to find s/r so trend is up to 11500 area could be bumpy as eauropean central bank being quiet for now happy labor day to all