for those who missed selling opportunity from a higher level on eurusd
I have another potential trade:
we have a completed h&s pattern with a wide neckline around 1.118.
if bears break this level, for us it is a good chance to catch a movement to 1.113 market low,
with potential continuation to lower levels.
market is entering a significant support area around 0.69 level.
D point of a harmonic bullish abcd pattern lies perfectly inside this zone.
most likely the market will bounce up to 0.7 - significant resistance level.
0.705 is a very good level for the second target.
if bears break this rising trendline and market closes below 1.12 level,
for us, it is a very good signal to short the market.
RSI divergence + significant structure resistance + head and shoulders pattern on 1 hour chart
adds additional confidence!
be patient and don't rush!
USDJPY is currently testing 109.5 structure support level.
taking into account the formation of a double bottom pattern
+ clear RSI divergence the market has the potential to pull back up!
our plan is:
if bulls break 110.0 resistance level.
most likely the market will go higher and reach at least 110.5 level.
so we wait...
EURUSD is trading inside a rising parallel channel.
the market has recently reached significant structure resistance
and we see clear rejection.
our plan for this pair is to wait and sell bearish breakout of a channel.
T1 - 1.121
T2 - 1.185
pound dollar is approaching 1.3 structure support level.
RSI is very oversold with clear divergence
+ we have a completed head and shoulders pattern.
neckline is a narrow resistance level around 1.304
our plan is:
wait and buy bullish breakout of a neckline
T1 - 1.308
Stop below left shoulder