Originally Posted by
;
DRT,
Large THANKS for taking time for you excuse (s).
Without the use of PDA (just using price), let me try to interpret what you are saying. We'll Follow the EUR/USD Daily chart.
- Since near the end of last November until now, am I correct in stating that buyers and sellers have put a reasonable vaule about the Euro at someplace between 1.3050 and 1.3100? I came to the conclusion buy looking at the range of prices that comprised the many Support/Resistance tags.
- Could it also be said that this range (provided I've even correctly identified it) represents the fattest aspect of the bell curve?
- Let us say I'm in the ballpark here....what would you (we) do with this advice going forward?
As we sit here today I see two distinct scenarios developing....
- Placing my Price Action knowledge to use, I visit a Sell opportunity coming off of the 2-15-07 Pin Bar.
- However, if I'm following you correctly, it seems that the Buyers have taken hold again since they've moved price up throughout the 1.3050-1.3100 value zone on 2-14-07 and scooped it up when it dipped back into this zone. This would create be think the Buyers are in control now and we're looking at a Buy prospect.
Randy