YPP does not work, does MPP work?
Updated
eurgbp has been keeping a narrow range since May.
As you can see, YPP (P) does not work and MPP (P) is functioning.
As you can see from Weekly, it is a range quote in the long run.
It seems that you can aim for long after confirming support of MPP (P).
<< tactics >>
1) MPP (P) 0.88187 is functioned as a support line.
Long entry.
The first limit is under WePP (R1) 0.88841.
The second limit is under MPP (R1) 0.89194.
2) It is doubtful whether MPP (P) 0.88187 functioned as a support line.
After penetrating downward, check if it functions as a resistance line and consider a short entry.
I would be grateful if you like it idea,give me follow or agrees!
------------------------- <Legend> --------------------------
Brown thick line: Yearly Pivot Points (YPP in the text)
Light blue thick line: Monthly Pivot Points (MPP in the text)
Green thin line: Weekly Pivot Points (WePP in the text)
Indigo thick line: Horizontal line or Trend line seen by weekly or monthly
Indigo thin line: Horizontal line or Trend line seen by 4hourly or daily
Indigo dotted line: outstanding round number.
Red thick line: Untrustworthy line for me
Red curve: EMA 20 close
Indigo curve: EMA 200 close
Green curve: EMA 800 close
Black curve: EMA 1600 close
x mark: Line which may not function
------------------------- <Legend> --------------------------
As you can see, YPP (P) does not work and MPP (P) is functioning.
As you can see from Weekly, it is a range quote in the long run.
It seems that you can aim for long after confirming support of MPP (P).
<< tactics >>
1) MPP (P) 0.88187 is functioned as a support line.
Long entry.
The first limit is under WePP (R1) 0.88841.
The second limit is under MPP (R1) 0.89194.
2) It is doubtful whether MPP (P) 0.88187 functioned as a support line.
After penetrating downward, check if it functions as a resistance line and consider a short entry.
I would be grateful if you like it idea,give me follow or agrees!
------------------------- <Legend> --------------------------
Brown thick line: Yearly Pivot Points (YPP in the text)
Light blue thick line: Monthly Pivot Points (MPP in the text)
Green thin line: Weekly Pivot Points (WePP in the text)
Indigo thick line: Horizontal line or Trend line seen by weekly or monthly
Indigo thin line: Horizontal line or Trend line seen by 4hourly or daily
Indigo dotted line: outstanding round number.
Red thick line: Untrustworthy line for me
Red curve: EMA 20 close
Indigo curve: EMA 200 close
Green curve: EMA 800 close
Black curve: EMA 1600 close
x mark: Line which may not function
------------------------- <Legend> --------------------------
Trade closed: target reached
Thank you very much!
Why did it move?
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