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Never made predictions :)
Below is the piece of history that has been overlaid at the moment
Never made predictions :)
Below is the piece of history that was overlaid on the current moment
On the daily, there's a lot of overbought![](https://c.mql5.com/3/150/EURUSDDaily__1.png)
At the hour marker, there is a push to the bottom.
Unlikely to go up![](https://c.mql5.com/3/150/EURUSDH1__9.png)
On the daily, there is a big overbought market
On the hourly there is a squeeze to the bottom.
Unlikely to go up
What does it show on a weekly chart?
The weekly data is a bit lacking - it's drawing nonsense at all. On the dailies it's like this for a month ahead:
There's a link in my profile - download it for free. But this is not a forecast. It only shows what was before with the similar price behaviour.
The weekly data is a bit lacking - it's drawing nonsense at all. On the dailies it's like this for a month ahead:
There's a link in my profile - download it for free. But this is not a forecast. It only shows what was earlier with similar price behaviour.
I have little faith in this indicator. What can you say about it from your experience?
After much searching, I have come to the conclusion that past price values have no meaningful influence on future movements. At any TF and time horizon. This does not only apply to the indicator in question. I don't look in that direction anymore...
But there is a point > if I failed it does not mean that others will fail too :)
Watching how "levels" and other constructions worked in similar situations before is quite amusing...
I put a pending short position to 1.1690.We might go lower.![](https://c.mql5.com/3/151/EURUSDH1__1.png)
The weekly data is a bit lacking - it's drawing nonsense at all. On the dailies it's like this for a month ahead:
There's a link in my profile - download it for free. But this is not a forecast. It only shows what was earlier with similar price behaviour.
It's a good figure! :) My forecast is the same
To 1.15 is still enough to defuse overbought, then further growth on the trend
After much searching, I have come to the conclusion that past price values have no meaningful influence on future movements. At any TF and time horizon. This does not only apply to the indicator in question. I don't look in that direction anymore...
But there is a point > if I failed it does not mean that others will fail too :)
Watching how "levels" and other constructions worked out in similar situations is quite amusing...
Influencing more than all the news and expectations put together