biscuitbuns23

EUR/USD down trend reversal.

Long
FX:EURUSD   Euro / U.S. Dollar
A three inside up candlestick formation was completed on August 23rd, on the daily chart , signaling a possible reversal. Later on September first after some nice upward movement, again on the daily chart , the Lux Algo flashed a strong buy signal. A day later on the second a somewhat contradictory signal flashed, the completion of a sell setup on the TD sequential. If we have in fact started a new uptrend I believe this sell signal from the TD sequential will only lead to a small correction. The correction seems likely since the formation of an evening star pattern is currently in the works, though we will still need to wait and see where the August 6th candle closes.