EU
EU resistanceWhy we have been seeing since Monday morning is heavy resistance from 1.8500 , seems to me bears will be in control till Thursday when more news is released it’s been stuck here a while usually movement take a while but what I’ve noticed in trading Eu is that it will show direction almost immediately if there is nothing going on event wise to show you support and other pivots to get money out of retrace , so i think in this case we should see it hit 1.76000.
EUR/USD CHANGE IN THE TREND.WE Have seen a head and shoulders pattern form on the lows in the euro dollar 4h chart, now since the neckline broke price has fallen to retest ema89 and make a pullback, so now is a good time to go long with 80/100 pip stop and target higher highs. wait for price action or rvi bullish cross
EUR/USD 1H LONG SET UPWe had a good spike in dxy, now the question for us traders is do you buy these highs in the dollar index, no you dont because profit taking from todays rallies are next in line. in trading you get highs and lows right? we have had a high in dxy a quick spike, we need a low and dont forgget overall dxy strength is down. stimulus is the catalyst.
Possible scenariosNovember roof broken to the upside
Downtrendline broken to the upside
USDCNH is falling to the abyss.
Price stalled bcs we are at strong resistance 1.19000. Round number.
Meade tells US stock market will rise 12 percent this month (negative for the dollar)
But we have untested weekly CPR and weekly pivot. In case of strong trends they are often missed. But if price pulls backs - it will be be weekly central pivot range area.
At any case I am long for now. If price pulls back I will add to longs.
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FOR INFORMATIONAL PURPOSES ONLY.
THIS IS NO FINANCIAL ADVISE. YOU ARE ALONE RESPONSIBLE FOR YOR TRADING DECISIONS.
EUR/USD DAILY PICTUREWe are a little bit late for perfect entry, however after seeing crypto decline over the weekend on biden election, have we seen dollar gap over the weekend? either way the opportunity of a pullback is always valid and as such we can wait for this event to happen before pulling the trigger. to the left i have shown you the potential set ups you can find with what i am showing you and i hope you are all utilizing this in your trading if you are struggling,
Bullish Butterfly Pattern (Daily)The Bulls have an opportunity to regain control from the Bears. Having entered on the right shoulder of the Bearish H&S pattern back on October 21st, the Bears have not quite hit their first target for the pattern.
The initial harmonic reaction to the Bullish Butterfly entry is a good sign for the Bulls, I would expect a retest of the entry before a further attempt to continue the Bullish move.
Head & Shoulders Pattern - Entry 2 (Daily)The initial entry on the right shoulder of the pattern has not yet reached it's first target, having closed below the neckline the Bears now have confirmation for a second entry at the retest of the neckline.
The opportunity for the retest was created by the Bullish pressure of the Butterfly pattern linked to below.
Experienced traders should use the entries to hedge against each of the patterns. Closing 50% of each position at the opposing patterns entry will create risk free positions in both directions.
EURCHF Bullish trend ahead !Two patterns both bullish appeared on EURCHF
currency pair chart. T1-T2 for pattern wedge
and 3 dotted trendlines for pattern Sperandeo.
Green solid trendline is an expected movement
for next several days, also take in mind the
fibonacci levels . 50% Fibo (1.0705) will be the
first strongest resistance
Terms and short forms!
T - Trendlines (T1,T2... etc.)
S - Supprt levels (S1,S2... etc.)
R - Resistance levels (R1,R2... etc.)
TP - Take Profit
SL - Stop Loss
F - Fibo Levels (F23,F61... etc.)
Check out my next stream "Group from Moving averages based on Fibonacci numbers"
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