EURUSD [Descending Triangular Contraction + Barrier levels]
Observation:
Price movement near the end of the Descending Triangular Contraction
Analysis:
Long Breakout if price breaks 3 barriers namely
1.Two previous peak of the price movement formed resistance (surplus) area
2. Dynamic resistance
3. Previous Waves - if momentum is strong in this area, price could actually break the other two waves remaining to really break the area of triangular contraction (descending)
Short Breakout if price breaks 2 barriers namely
1. Small wave movements indicated by a blue line (same slope with previous waves)
2. Dynamic support
*** Dynamic support is not horizontal rather leaning downward, in favor for price downtrend.
Conclusion:
Short has a higher probability of price movement than Long.
Price movement near the end of the Descending Triangular Contraction
Analysis:
Long Breakout if price breaks 3 barriers namely
1.Two previous peak of the price movement formed resistance (surplus) area
2. Dynamic resistance
3. Previous Waves - if momentum is strong in this area, price could actually break the other two waves remaining to really break the area of triangular contraction (descending)
Short Breakout if price breaks 2 barriers namely
1. Small wave movements indicated by a blue line (same slope with previous waves)
2. Dynamic support
*** Dynamic support is not horizontal rather leaning downward, in favor for price downtrend.
Conclusion:
Short has a higher probability of price movement than Long.
