As you guys can see, EU D1 i told you last week that they could be a possible Right Shoulders Formation, but that i am looking for that Right Shoulders.
Last week i told you that there would be a small pullback to 1.17372 and downtrend continuation.
Now let's look at chart this week-end. Pullback hitted 1.17372 showing signs that it could be a buy. So some traders are buying expecting the Right Shoulders to be formed.
As you can see, EU is in downtrend.
EU D1: The 1st drop broke my W1 Key Level, retested it as a resistance and and dropped to my Bullish Order Block. Price now has pullbacked to the small red line which is my D1 62% Fib Level and rejected and closed above my black line which is my D1 50% Fib.
On EU H1 we can see clearly what is happening around my D1 Red line and D1 black line.
EU H1: Price bounced exactly around my D1 Red line (62% Fib). We can see a small Head and Shoulders formed. So on EU H1 i let the Fib on to show you that price has now bounced again around my H1 62% and engulfs the H1 50% Level.
ALL THIS LET ME CONCLUDE THAT THE PROBABILITY FOR PRICE TO FORM THE EXPECTED RIGHT SHOULDERS AROUND 1.20140 IS VERY SLOW.
HOWEVER WE COULD SEE PRICE DROPING QUICKLY THIS WEEK TO 1.14000 WITHOUT RETRACEMENT
For questions, dm @Fxparm on telegram
Last week i told you that there would be a small pullback to 1.17372 and downtrend continuation.
Now let's look at chart this week-end. Pullback hitted 1.17372 showing signs that it could be a buy. So some traders are buying expecting the Right Shoulders to be formed.
As you can see, EU is in downtrend.
EU D1: The 1st drop broke my W1 Key Level, retested it as a resistance and and dropped to my Bullish Order Block. Price now has pullbacked to the small red line which is my D1 62% Fib Level and rejected and closed above my black line which is my D1 50% Fib.
On EU H1 we can see clearly what is happening around my D1 Red line and D1 black line.
EU H1: Price bounced exactly around my D1 Red line (62% Fib). We can see a small Head and Shoulders formed. So on EU H1 i let the Fib on to show you that price has now bounced again around my H1 62% and engulfs the H1 50% Level.
ALL THIS LET ME CONCLUDE THAT THE PROBABILITY FOR PRICE TO FORM THE EXPECTED RIGHT SHOULDERS AROUND 1.20140 IS VERY SLOW.
HOWEVER WE COULD SEE PRICE DROPING QUICKLY THIS WEEK TO 1.14000 WITHOUT RETRACEMENT
For questions, dm @Fxparm on telegram
next level coming soon 1.14000