FX:EURUSD   Euro / U.S. Dollar
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HI All, After doing my analysis on the EURUSD             Pair - many traders would be thinking it is in a Bullish Trend and will continue to rise maybe if it breaks and closes above 1.1444's. I wanted to share this with you to show you the Multitude of Advanced             Patterns on HTF             which have completed. Like in previous pairs I have explained my analysis on the perfect entry to minimize risk and increase your profit. If you took any of these advanced             patterns on Day Chart then you would have won every trade. The reason price is drawn to these levels at 1.1300 - 1.1400 is due to emotions from people 108 is a bit low I might take profit and go long now - 1.13 is a bit high I might take profit and look to go short - this is why we see the bounce from high to low. Eventually you can see it channels slowly getting smaller as we get further down the emotional human roller coaster. Until we eventually break through. We are almost Oversold on RSI Day Chart and it hasnt been since May - we may see some relief on this completing our BAT Pattern - If this happens then we also may see another Advanced Pattern Cypher Forming bringing us down to 109's for entry. Right now I would be very happy to look at this shorting opportunity if you can find the perfect entry level as this is very big looking at around 1000pip Risk to 2000pip reward. Check your LTF and look for that perfect opportunity to catch at its highest before the retrace. As always only trade your idea's as these are all predictions based off technical analysis .
"We are almost Oversold on RSI Day Chart and it hasnt been since May"

I think you mean overbought?

Thanks for the chart and great analysis and explanation!
Oztrade hachre
Hi Thanks for the correction O/B - Happy Trading
+1 Reply
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