Chart, page-19948

Hi Folks

Time to review the BRN chart. It's not pretty despite the colours.

You can see in the chart a series of lower-lows, followed by lower-highs and break downs. Black ( I couldn't fit the whole pattern in this chart as it only goes as far back as September 2022) then purple, green, blue and now red.

So far we have had four complete repetitions of this recurring pattern and have started the fifth (red) pattern.

For this recurring pattern to stop something needs to change that being the red lower-high (currently at 0.435) needs to go higher that the previous lower-high (Blue at 0.49) in that way we might no see the red breakdown ellipse.

If the red lower-high stays below the blue lower-high then the chances are that after approaching the red lower-low at 0.35 we shall see the red breakdown ellipse appear.

In which case I will be forming a new Brown lower-low maybe somewhere around the 0.31-0.33 region and watch to see if the pattern repeats again. Starting to run out of colours.

I can't make up a good scenario from looking at this chart for full story is there for all to see.

How many more repetitions can there be? Who knows, but note that in a chart that covers only 8 months we have had four break downs from lower-lows.

I think this baby needs some serious income.

Just the way I deal with the charts so that I am not surprised by what plays out, as always DYOR.

cheers Lies