Matt_Forex
Short

Bearish ABCD 1hr

FX:EURUSD   Euro / U.S. Dollar
626 2 1
The ABC portion of this pattern was forming nicely. Once point C was established the move to point D has become quite sloppy, although none of the pattern rules have been violated. Price action did tag the 1.236 fib retracement but given the rising RSI channel I do not think the move is complete.

Please let me know what you think. I am new to trading and any advice would be helpful.


Thank You
I think the price will test the 1.2620 resistance once again and might form a double top reversal pattern. If it manage to go beyond that, the upper resistance would be 1.2750.
Some analyst said that the possible price range for this week is 1.2400 - 1.2750 and I agree with them :D
snapshot
Reply
Agreed.
Reply
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体
台灣
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 Contact Support Ideas Published Followers Following Private Messages Chat Sign Out