Yesterday we saw a fast dip down to 1.3078. This Level was bought directly, a countermove up to the Minimum correction Level, the 38,2 fibo started. Here the Price dropped again. This is not really a bullish Szenario.
Today we have reached an Action Point. Will a Triple Bottom be formed ?
Should the pair not trade above the fibos 1.31589/ 1.31835/ 1.32082 the shortterm Chart seems to be in a bearish mood.
Especially Prices below 1.306 are strong bearish The RSI signs a possible upmove before the breakout will start (orange arrow)
The risk-Lover is buying the actual Level for a shortterm Long, sl near below 1.306
The cyclical Trader should install a stoppsell near 1,306. SL 1.3125
Today we have reached an Action Point. Will a Triple Bottom be formed ?
Should the pair not trade above the fibos 1.31589/ 1.31835/ 1.32082 the shortterm Chart seems to be in a bearish mood.
Especially Prices below 1.306 are strong bearish The RSI signs a possible upmove before the breakout will start (orange arrow)
The risk-Lover is buying the actual Level for a shortterm Long, sl near below 1.306
The cyclical Trader should install a stoppsell near 1,306. SL 1.3125
Comment:
We saw a bear trap (yellow circle) - The risk Lovers bought this bottom - a triple bottom appears - the breakout did not occur.. Will this tiny flag (blue) push the Pair to the Trends upper edge @ 1.316?
Comment:
wow..reached flag tp exactly...