On January 6 EU reached a resistance level , failed to break through it and then formed a double top reversal pattern ( looks like the letter M ) after that it took off in a bearish direction from that week carrying on into the week that just recently passed. Overall EU has been bullish and on the 4hr chart price looks like it will possibly retrace from fib level 38.2.
What to look for on confirmation of bull move.
1. if price reaches support.
2. if price fails to break support.
3. if price breaks bearish trendline
4. if price make a double bottom reversal pattern ( looks like the letter W )
anything else will be indicators giving more confirmation.
if you agree with my analysis please like or comment your thoughts.
What to look for on confirmation of bull move.
1. if price reaches support.
2. if price fails to break support.
3. if price breaks bearish trendline
4. if price make a double bottom reversal pattern ( looks like the letter W )
anything else will be indicators giving more confirmation.
if you agree with my analysis please like or comment your thoughts.