EurUsd short shark pattern

FX:EURUSD   Euro / U.S. Dollar
Based on a big shark pattern. Target is 50% fib line. So, technically the move down is not over.

This is not trade advice
Manu short ?
Manu76 JediOne
@JediOne, not yet, there's some regular bearish divergence and also bearish divergence on 1h till 4h timeframe's which can bring some upside movement. If you're not in a short trade yet then you should better wait. I have no entry signal on my private indicator.
Manu76 Manu76
Manu76 Manu76
More detailed. This is what I expect for the mid long term.
Manu76 Manu76
Big chance to see a bullish reversal in the short term, with as TP the red line, but price may spike above it and must close below the red line again even after spiking. Anyway, if it will spike above or not is not predictable at this time. But after this there's a chance to see again a correction down and maybe a break of the blue trend line in view of touching the 50% fibo. I still think that the bearish shark pattern target of 50% of the fibo must be touched or even lower (not sure) before a real strong eurusd bullish potential move and hit 1,20 - 1,22.
Manu76 Manu76
Once the UO indicator reach oversold, I'll look for a place to sell ; all depending on the future indications which of course I cannot predict at this time
Manu76 Manu76
Correction: With my poor English, instead of oversold I meant overbought. Excuse me for the confusion. So, wait for overbought position before watching to sell.
Manu76 Manu76
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