We are printing a bear flag on the hourly and 4hrs chart. The story hasn't changed too much. The giant head and shoulders broke down. We tested back the neckline and heading to the target prices. I'm waiting for an acceleration in the next 2 weeks. We need to wake up the bears from the hibernation . I would like to see ideas here in TV talking about parity and "EurUsd goin' to 0,8"...
The hourly flag is breaking down in these minutes. Let's see if market throws us a curve ball by breaking above the flag one more time before finally breaking down violently...
Comment
⋅
This flag is breaking down too... We tested back 1.17 finally just a bit later than I predicted.
Looks like a fake breakdown with this huge daily candle
metfan
⋅
Anyone want to way in? Looks like we are on the cusp of a break down.
Zaiteku7
⋅
@metfan, The last 10 days have been a stubborn consolidation in a continuously narrowing range. Definitely coiling for a dramatic move in either direction. On balance, the probabilities shown a decline is most likely given the declining resistance levels keep holdings and minor support levels keep being broken, but anything is possible. I'm in the money on my short with a reasonable stop above the pivot point. I'm looking for a Friday selloff and a gap open on Monday...but that's what I expected last week as well!
Zaiteku7
⋅
Let's get this party started, that sure was a long week! I hope y'all are short right now!
Zaiteku7
⋅
Resistance holding well bellow 1.17 downtrend backtest level. Hourly flag is failing with dwindling volumes. Flag breakdown below 1.1630 will be confirmation of bear trend continuation. Then downwards to 1.14 or lower:)
popshvt
⋅
still holding, thanks!
muhmasry
⋅
Hi Sir,
good job, I think with the next hours if (1.165) zone has been break up ur first forecast will be more reliably other we will be inside loop of 1.164 to 1.162 some more time till break 1.65 support zone
Zaiteku7
⋅
I'm on the same page for this one. Violent breakdown is looming provided 1.17 resistance holds. As public enemy says "how low can you go...."