We have a trading range within bull broad channel.
After a failed BO near the trading range high, EURUSD fell down in Friday.
The BO of channel was with 4 consecutive bear bars.
The last 2 bars strongly closed near their lows so strong bearish momentum.
Strong legs usually have 2nd legs, but now we are near the trading range bottom so getting short here is so aggressive.
Wait for retest of broken bull channel. Then look for entries in lower timeframes.
If bulls come and push price above the bull trendline again, so I expect the top of trading range to be tested by bulls.
**This is not an investment advice. Your capital might be at risk.**
Give me your idea on comments...
Good Luck...
After a failed BO near the trading range high, EURUSD fell down in Friday.
The BO of channel was with 4 consecutive bear bars.
The last 2 bars strongly closed near their lows so strong bearish momentum.
Strong legs usually have 2nd legs, but now we are near the trading range bottom so getting short here is so aggressive.
Wait for retest of broken bull channel. Then look for entries in lower timeframes.
If bulls come and push price above the bull trendline again, so I expect the top of trading range to be tested by bulls.
**This is not an investment advice. Your capital might be at risk.**
Give me your idea on comments...
Good Luck...
