@MatrixFX, the price went up :) against your pattern ... bro Technical Analysis is just a waste of time!
financial markets are a complex system, in which cannot be analyzed by looking at patterns!
have you ever seen someone looking into the skies and telling you how the weather would be in a week or so by seeing the shape of the cloud?
without the complexity theory analysis techniques predicting the market with patterns in worthless!
have a look on my profile! out of all analysis i have provided i have failed only once! and none of them depended on TA
MatrixBits
⋅
@nexin, Cool thanks I will check it out. Do is this line trading based? Looks like it if it passes this line short, if it passes this line long?
nexin
⋅
@MatrixFX, the lines are the VWAP standard deviations or the volume-weighted average price, i use them to find the spots that major orders were traded on, for example, if an institution bought let us say eurusd at a certain price level, they won't sell anywhere below that level. that means the price is highly expected to go higher than that level or lower than the previous level