My last EURUSD analysis was forecasting the price to go up pass the recent double tops impulsively to confirm a potential up move.
However I am seeing the recent price action and structure are developing more into a correctional piece.
We see price correctively move up toward the recent double tops by forming a rising wedge structure, and hitting the top of the channel structure as well.
What I would like to see now is a lower time frame continuation structure to develop once price breaks out from here, and wait for confirmed correction and enter the sell.
Thank you
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Still waiting to see if price breaks out from this rising wedge structure follow by continuation.
Hello! I'm a beginner and learned a lot about price action on your page. I'm wondering if you also use indicators before entering a trade?
jojofang0901
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@rmhoshina, Hello thank you for your feedback. Personally in my trading style and plan I dont use indicators. I have a post briefly explaining why. Hope that helps. thank you
hrm2630
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@jojofang0901, I see.. Thank you so much for replying sir!
d33saa
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What kind of confirmation do you mean? am still confused about confirmation, and can you give example about it?
jojofang0901
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@d33saa, This would be a confirmation of a correction structure, as an example.
agosags
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i am also looking for a sell but seems like the structure is not respected at this point because it has done a lot of bounces on the trend line support so will just be looking for a new structure setup will publish on my ideas as soon as I draw it but I like your analysis
@agosags, Thank you :) Yes for me its all about what the price action is telling me, and what kind of structure is forming. I understand patterns/structures are sometimes incomplete and requires additional development for confirmation. Sure thing share with me on your analysis, thank you