I've been waiting for a reaction around the 1.084 levels to see if there was some interest around the area.
Judging by the open of the week, paired with natural behavior of the EUR where it goes one way then reverse a bit into the day, I'm taking this reaction curl as a sign the trend is ready to make a retracement move back to 1.096 or so, which sows a lot of interest, and possible point for a turn back to the down side.
Stopping just below the support, at 1.08. Should we get more than a liquidity reach into the zone, it may want to continue a bit lower, but the natural price levels are in line with the the idea, 1.***40, 1.***60 both seem to be common active levels at each major price area.
Haven't been posting and trading from the phone without a laptop for a short bit. Phone charts, meh, but hopefully it can show what I'm seeing. Just using basic behavior and support/resistance to make the idea, and with general market theory applied with the other aspects make me think this is a high probability overall, but will look to trail, because when it turns, it's going to make a new low again I expect, and it could be possible the trade stops around 1.092 I would think 🤔, but I'll be watching anyway if I'm awake.
Judging by the open of the week, paired with natural behavior of the EUR where it goes one way then reverse a bit into the day, I'm taking this reaction curl as a sign the trend is ready to make a retracement move back to 1.096 or so, which sows a lot of interest, and possible point for a turn back to the down side.
Stopping just below the support, at 1.08. Should we get more than a liquidity reach into the zone, it may want to continue a bit lower, but the natural price levels are in line with the the idea, 1.***40, 1.***60 both seem to be common active levels at each major price area.
Haven't been posting and trading from the phone without a laptop for a short bit. Phone charts, meh, but hopefully it can show what I'm seeing. Just using basic behavior and support/resistance to make the idea, and with general market theory applied with the other aspects make me think this is a high probability overall, but will look to trail, because when it turns, it's going to make a new low again I expect, and it could be possible the trade stops around 1.092 I would think 🤔, but I'll be watching anyway if I'm awake.
Trade active:
Limit filled not too long ago
Comment:
15 minutes is showing my favorite pattern, the loaded "w", let's see if it springs out....(80% likely)
Comment:
Volumes shownan indication of a major buy-in to stop the price from dropping, short time frame so does not rule out the dead cat bounce possibility yet, should get a good indication on the turning point soon I would think
Comment:
"W" complete with excellent formation, moment of truth on the pattern or did the car not have any lives left?
Trade closed: stop reached:
Failure of the pattern retest and ultimately stopped out