The market has broken out the upward trendline and it means the up-trend may be changed.
The market is pulling back the 0.618RET which is also the neckline of previous structure.
So it is good to sell short at 1.066-1.068 levels when the price action gives signals in the PRZ.
SL:above 1.072
TP1:1.058
TP2:1.045 and further more
The market has soared for a long time and now the price is pulling back the 0.618RET.
Meanwhile the previous structure also works at this zone.
So it is good to buy long at 21300-21700 when price action gives the signal.
SL:below 20250
TP1:24400
TP2:25500 and further more
The 0.618RET of previous drop is at 1.049 level and the 1.618EXT of previous rally is also at this level.
Meanwhile the Supply Zone is at 1.048 level.
So it is good to sell short at 1.048-1.049 levels when the price action gives signals in the PRZ.
SL:above 1.049
TP1:1.043
TP2:1.040 and further more
The bullish AB=CD pattern has completed at 1.227 level and the 0.618RET of previous rally is at the same level.
Meanwhile the previous structure also works at this zone.
So it is good to buy at 1.227 levels when price action gives the signal in the PRZ.
SL:below 1.227
TP1:1.232
TP2:1.234 and further more
The bullish Bat pattern completed at 1.235 level and the 1.618EXT of AB is at 1.241.
The 0.618RET of previous rally is at 1.234 level.
Meanwhile the previous structure also works at this zone.
So it may be good to buy long at 1.235-1.240 levels when price action gives signals at the PRZ.
SL:below 1.230
TP1:1.247
TP2:1.256 and further more
It looks likes buyers are taking a rest ( creation of flag ) after the "1st Impulsive Wave". If the move up continues, buying the flag breakout is not a bad idea. The move up is likely to test the "High" with a possible extension to the 0.27 fib. level.
6.1.8. Family.
More Than Just Trading.
The market has moved to the 0.618RET of previous drop and it may face the strong resistance.
So it may be good to sell at 146.6 levels when price action gives signals in the PRZ.
SL:above 148
TP1:141.2
TP2:136.0 and further more
More profits wil be taken if the market breaks out the 143.0 level at first.
The bearish AB=CD pattern is complete at 1.273 level and the 0.618RET of previous drop is at the same level.
Meanwhile the previous structure also works at this zone,and strong resistance will be faced here.
So it is good to sell at 0.723-0.725 levels when price action gives signals in the PRZ.
SL:above 0.726
TP1:0.713
TP2:0.706 and further more
Recently, I have been in a draw-down which is like being in an ocean without knowing how to swim so you are constantly in and out of the sea. I always end up in the red every time I'm in the green. But I certainly know I will be out of this draw-down, and it's only going to take "One Good Trade". I'm not sure if it's this buy, but I can sense it coming it even...
Price has created a potential "Regular Flat" which can only be confirmed when the "Low" is tagged. A sell after a flag formation to the lower structure level is not a bad idea.
6.1.8. Family.
More Than Just Trading.
For the majority of time, Buyers have been in control since May resulting in a "Higher High (HH), Lower Low (HL)" sequence. However, have the Sellers had enough and maybe looking to gain control? This can only be confirmed once the "Buyer 1 Zone" is breached. For now I'm looking for a short opportunity.
Happy Trading.
6.1.8. Family.
The bearish AB=CD pattern will complete at 0.7238 level and the 1.618EXT of BC is at 0.7247 level.
The 0.618RET of previous drop is at 0.7238 level.
Meanwhile the previous structure works at about 0.720 levels.
So it is good to sell short at 0.720-0.725 levels when price action gives signals in the PRZ.
SL:above 0.725
TP1:0.715
TP2:0.710 and further more
With this trade, there are two buy entry options( Cypher Pattern or Flag Breakout ). Aggressive traders can enter at the Cypher Pattern completion while conservative traders take the flag breakout.
Personally, I prefer the flag since I have a bias EURUSD might fall further so waiting for a confirmation is not a bad idea. But I can't be 100% certain what the...
Although the fall in price from its peak is a struggling one, there is still a possibility for this to continue to test the dashed trendline . If the dashed trendline is disrespected, the fall is likely to continue.
6.1.8. Family.
More than Just trading.
We have come back into a strong area of resistance which has seen the pair attempt many times over the last week or so and not really broken higher.
This is also the 618 area from the recent impulse leg down.
Looking at the 0.73394 weekly key level as a target
I have been stalking this pair for some time and finally it looks like the buy trade will trigger. If price pushes up in a sharp form it confirms Elliot's guidelines about alternation since the previous correction in this entire wave down was sideways.
Overall, this has the potential to be a good trade to the 618 fib level.
6.1.8 Family.
More Than Just Trading.
The market broke out the triangle and the target reached at 5254 level.
Meanwhile the 0.618RET of previous drop is at 5245 level and the previous structure also work at this zone.
So it is good to sell short at 5240-5260 levels when price action gives signals in the PRZ.
SL:above 5260
TP1:5190
TP2:5150 and further more
