Third rejection of Daily trendline forming LH and continuing on with the bearish trend. Price closed below daily 49EMA.
Daily chart broke out forming Higher high and started to signal bullish trend change. However, Daily chart failed to continue higher and after intraday LL developed a new LH on the daily chart pushed price further down closing below the daily 49EMA.
Daily break and retest of the 1.415 zone forming daily Head and Shoulder pattern. Daily closed as Lower High with daily tweezer tops rejecting key resistive zone.
Daily Bearish engulfing forming intraday LH after yesterday formed a LL confirming bearish trend change. Trade was entered via APL strategy.
In this idea I show you how I trade swing failure patterns. This is good for any time frames but lower time frames are preferred. Very simple idea yet works pretty nicely. Let me know what you think.
EURUSD Retested 1.1 overnight but failed below 1.0980 - the move was quite quick and we once again missed our entry. See another bounce towards 1.0960 before an eventual move towards the multi-lows around 1.05. Shorts above 1.0940 against 1.0980/1.1005 are valid but more conservative traders could wait for a break of the minor support trendline/overnight low...
Similar to SPX, the DAX is on a verge of breaking the daily TL for more downside. This bullish bat is just a speculation where the potential support may be.