SL: 1.11
TP: 1.0988
Previous day candle is an inside day, i would actually prefer a proper reversal pattern instead. Good thing is price has broken yesterday low. In addition, there is a possibility that this is a 5th wave pattern which should extend to at least 1.0988
Weekly chart: price closes higher last week (to note)
Daily chart: Triangle breakout to down side, can look to short till 0.8855
TP1: 0.89
TP2: 0.8855
SL: 0.905
Summary:
- Note that this is against general trend which is down.
- Observed strong support with price breaking above resistance line 0.66555
- Looking to take advantage of short term long with take profit level at 0.6745.
- Price also formed higher higher and poised to move higher, but could be short term retracement before going long.
- If my idea is wrong, i...
Was looking for price to go further down, however, noting that price has reached near term support, i am getting out of this position with a decent profit. Hence, I am neutral with EURUSD at the moment.
Highlight:
resisted at 0.38 fib level
pin bar signal from yesterday
potential start of wave C
Idea:
Potential short, invalidated if pin bar high is breached.
