Possibly shorting USDCHF due to a good looking Wolfe Wave. Confluence is an ABCD pattern and possibly RSI divergence. Short order put at the green area with target and stoploss indicated on the chart, good luck! Will most likely scale down as we move towards the profit target due to the high Risk:Reward.
I did a nice monthly review on the EURUSD. Way too much confluence on this currency pair. 1. We have been trading a major correction this whole time. 2. Major flag 3. ABC Pattern. 4. Bullish Butterfly. 5. MACD I placed a PRZ where price can reverse. If price continues to drop and leaves the harmonic patterns PRZ box from the bottom im no longer interested ...
We have two nice potential reversal zones in this setup. Stochastic is also nicely overbought so we just waiting for that drop to the downside. Ill add some more ideas to this setup. Remember we no longer interested in this setup if price leaves the box from the upside. Look for a new trade. All the best :)
Setup displayed at a strong support zone. We can expect the trend to reverse at this point and head towards our Fib. levels. We also have a nice oversold region on our stochastic so we have more confluence to go long on this trade. The trend is most likely done correcting. Remember we no longer interested in this setup if it leaves our PRZ zone from the downside. :)