Hi All ..
Anticipatory Decision Point Flow Charting? .. lol what a crock..!! nonsense language … How about a couple guesses based on the price action..hmmm …sounds better already
My thoughts – bounce seems like only extreme oversold relief.. NOT change of trend..YET ..the red level lines show what I think is an important distinction.. weekly close above 12980 is legit BULL candle ..weekly close at or near 12880 creates appearance of bull candle but starts a possible BEAR flag consolidation.
Also to break the dotted inner down trendline need a close higher which helps the BULL retrace story ..
The two green boxes represent ..upper ..a BULL retrace target – ..lower.. the expected longer term target once this extreme oversold works off..
Next weeks candle will tell more .. a test and FAST bounce of the lows 12650 area would strengthen BULL case .. alot ..more up without any retrace ..lowers the probability that this is a bottom
I expect the new range for EURUSD is 12000 – 13000 for 2012 – but that is just an opinion ..I’ll focus on the charts ..