FX:EURUSD   Euro / U.S. Dollar
136 2 2
looks like a double top with bearish stoch RSI set my take profit for 900 pips going to hold on to this as a long term trade.
I am in partial agreement with you! I see a major resistance zone between 1.14512 & 1.15400 along with price vs Kijun dis-equilibrium, so I agree with the drop or should I say correction but the 900 pip drop I think would be pushing it with this pair at this time because the daily has a bullish bias and there is support at the flat daily Kumo at about 1.09977 which is about 400 pips below current price. We would need a daily Kumo violation before I change my bias. A more reasonable level of correction might be 1.12285 which is the fractal zone. Price likes to retrace back to these fractals and then continue with the current move. That level would be around 230 pip retracement at this time and that is what I am looking for now unless price can violate those levels.
+1 Reply
cloudichimoku ChaosTrader63
Thanks for your input i appreciate it. I will have to research more into these fractal zones.
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