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oakman
May 10, 2017 1:05 PM

EUR/USD 1 hour chart possible fractal formation Long

Euro Fx/U.S. DollarFXCM

Description

I am expecting very small pullback then move up if this is a fractal. I am unsure as to how far it may go. Long term I am bearish.

Comment

Price has made a small pull back as in prior fractal. You can now draw a trend line across the high of the last 2 small waves that have formed today. Once a candle closes above that line, we have a buy signal.

Comment

The good news was there was a wave up. The bad news is that it was smaller than anticipated. This was a market fractal since there was a corresponding wave up. It moved in the direction anticipated using prior market pattern.
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