TradingElephant

EUR Reversal Incoming

FX:EURUSD   Euro/U.S. Dollar
While observing the EUR/USD             chart, I noticed the incredible BULLISH market structure, with the higher highs and higher lows consistently moving the market up. I also noticed two possible patterns in the making while looking at the chart. The first pattern I noticed was the Head & Shoulders pattern, shown by in the chart. This pattern consists of three major high points, where the middle high is the tallest, and the other two are the same height. The result of this pattern is that the price will reverse down to a price level equivalent to the distance from the "head" to the baseline. The second reversal pattern I noticed beginning to form is a Three Drivers Pattern. This pattern calls for three major high points, each consecutive high being higher than its successor. The highest point of this pattern is indicated by an equal distance between each rise. I've also used a resistance line from the past, indicated with the long which lines up with this pattern. Both patterns indicate a reversal after either of these patterns become fulfilled.
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out