Doing a little Analysis on EurUSD...
You Have to go back sometimes to give a proper Analysis...
I like using the 4 hour for certain patterns
looking past to your left:
we have a 5 wave completion inside the channel
Then Channel Break
Then we had what looked like the start of a new cycle...
Looks like a head and shoulders is forming which is usually consistent with Euro pairs.
Then we had this huge drop (WHERE DID THAT COME FROM?)
upon further analysis, I see that on Nov. 8th, USD had positive news that might have caused this drop.
Since then this market has been unrecognizable
It's been trending up inside of a channel
I believe this is just the market correcting itself
Let's see how things shape out
I believe the dotted line in green is important
This would of been the neck line of that second shoulder that never formed
This isn't a trade idea...
Just a little analysis...
I could very well be wrong/out of my mind, haha...
You Have to go back sometimes to give a proper Analysis...
I like using the 4 hour for certain patterns
looking past to your left:
we have a 5 wave completion inside the channel
Then Channel Break
Then we had what looked like the start of a new cycle...
Looks like a head and shoulders is forming which is usually consistent with Euro pairs.
Then we had this huge drop (WHERE DID THAT COME FROM?)
upon further analysis, I see that on Nov. 8th, USD had positive news that might have caused this drop.
Since then this market has been unrecognizable
It's been trending up inside of a channel
I believe this is just the market correcting itself
Let's see how things shape out
I believe the dotted line in green is important
This would of been the neck line of that second shoulder that never formed
This isn't a trade idea...
Just a little analysis...
I could very well be wrong/out of my mind, haha...