Friday we had seen a possible trend reversal on the 15 minutes chart, today im gonna publish other studies that i've done on the 4H chart.
1. WATCHOUT FOR THE FIBONACCI
As we can see, eurusd it's close to the 50% level and 61,8% level.
In the previous i talked about a possible trend reversal, so wait till it brakes the support, wait till it test it again, could be just a small retracement.
2. STILL UP TRANDING?
If the Dollar it's not gonna be strong enough to break through the support zone at 1.10340 we can expect the price reach the resistance at 1.10600, that's a strong resistence that has been previously tested.
3. NEW TRENDLINE
as we can see, There is a new trend line, that has been tested just twice, so we can expect a pull back for a third test, so there is a huge possibility for a short position,
the previous trend line as becomed a resistence, so i suggest an TP (take profit) at 1.10350, so we can secure 30 pips profit, after the test of the support.
4. DIVERGENCE
There is a evident divergence on the stochastic oscillator, and RSI aswell, that's mean that we are in overbought condition, probabile short position in short therm's
(im not a pro member, i don't have even 10pt, so im sorry for the confusion on the chart)
COMMENT IF YOU HAVE ANY IDEA OR TRICKS TO PROPOSE.
1. WATCHOUT FOR THE FIBONACCI
As we can see, eurusd it's close to the 50% level and 61,8% level.
In the previous i talked about a possible trend reversal, so wait till it brakes the support, wait till it test it again, could be just a small retracement.
2. STILL UP TRANDING?
If the Dollar it's not gonna be strong enough to break through the support zone at 1.10340 we can expect the price reach the resistance at 1.10600, that's a strong resistence that has been previously tested.
3. NEW TRENDLINE
as we can see, There is a new trend line, that has been tested just twice, so we can expect a pull back for a third test, so there is a huge possibility for a short position,
the previous trend line as becomed a resistence, so i suggest an TP (take profit) at 1.10350, so we can secure 30 pips profit, after the test of the support.
4. DIVERGENCE
There is a evident divergence on the stochastic oscillator, and RSI aswell, that's mean that we are in overbought condition, probabile short position in short therm's
(im not a pro member, i don't have even 10pt, so im sorry for the confusion on the chart)
COMMENT IF YOU HAVE ANY IDEA OR TRICKS TO PROPOSE.