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EG has broken heavily to the upside and once again is testing the highs of 2017, price could still surge to 0.91000 range , but if a bearish engulfing daily candle close presents , will be seeing major push to the downside.
This market is presenting a bearish wedge on daily and could break and retest if techs present merit.
EG head and shoulder H4, this is a really choppy pair in its nature, hardly any definitive directional trend.
Price met resistance at what may be the formation of the 2nd shoulder at the same height as that of the first.
It is not a high probability setup, but may prove to be meaningful, as price moving to the upside after having broken the descending weekly ...
Gartley completion around 0.89
Order rate 0.89 but wait for confirmation.
TP 0.8795 (0.5 XA retracement)
4hr tdi showing consolidation movement
1hr tdi showing going up and OS
pull back to ema then continue the trend down
Fibonacci previous post not right
This week not my week,
Bad trade, and wicked coming eat me.
This week very hard for me.
I stop this trade because it not going down as planned.
I sell because of it break trend line and lower low setup.
Looking like that trendline will offer resistance.
Don't see a scenario for an upwards breakout, so short or neutral here. I am short EU 2 lots at this time, so down EU is good for me!
It's looking to me like it's going to react to the bearish bat pattern. I am waiting for a retest before the sell.
Please aware this
If support zone (red dot line) cannot hold this, it will fall off.
Now I wil sell only of this pair.
Still in downtrend.
It just broke the trendline last week.
I think now it's time to Sell. and TP at the support area.
If break, you can entry.
See in graph, it explains everything.
I made this prediction about a week ago on 9/8 and using Fib Retracement and the Cloud I easily made 250 pips. This strategy is a very useful long term strategy. PM me if you want to know how I color coordinated the Fibbonacci Retracement and how it is extremely precise and useful.
I am predicting a short pull back coming soon to the .84900 (TP1) area possibly could move lower as a pull back before heading back up to breaking higher highs. If levels .87470 (.87500) hold and don't break then EG will be dropping long term.
**** NOT A SIGNAL JUST MY ANALYSIS *****