The EUR is showing signs of an imminent decline. Gwaves have been detected and have given a potential time and date for price. The target is 1.08293 @ 5/29. Look for the curvature of the red circle to govern price moving forward.
Tech Note: Notice how even though price slightly broke out of the red field, it shot back down with force. Imagine it like this, If you put two magnets with the same polarity toward one another, the stronger you push them together the stronger they will fly away from each other once the pressure is let go. That is essentially what we are seeing here.
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Update: Price broke out of the Red price field but was stopped short by the hidden resistance level highlighted in dark grey in the original chart and a lighter grey in this chart. Price still remains on track to hit target.
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Update: With the breakout of the overhead resistance Gwave's is now pointing to higher targets. A potential for a higher target is around 1.13215 and in case of a really strong market 1.14500~
Look for the levels highlighted in red to act as future support and resistance as price continues to carve higher highs.
I do expect a short trade opportunity once this final leg is over.
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Update: Gwave level acts as resistance. A breakout would prompt a strong move up.
hi, thanks for giving this idea. i have no clue how to use this kind of indicator and i can't even understand what is all about except "decline"
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@locolyric, To understand the concept behind G Waves, we must first look at Gravitational Waves in the Universe. This is where I draw my inspiration from.
Essentially, a Gravitational Wave is when two Black Holes or Super Massive objects spiral toward one another and eventually collide or form into one. This event sends out a massive blast of energy through the fabric of Gravity stretching space and time. The energy that is sent out into space does so, naturally, forming ripples as it flows through the fabric of Gravity. This idea is applied to financial markets to create the targets you see on this chart.
Although I have back tested G Waves extensively, I have never released it to the public. This is a "show and tell" of the G Wave and what it can achieve in the financial market.
You can also read my background in my CADJPY Post Titled G Waves | A New Trading Method