As predicted we came down from ECB news down to 1.108-1.1100, down to the key trend line. EURUSD is now rejecting this trend line + 200 EMA + 50% Fib. Swing traders should look for tomorrow's news FOMC for a break past the 61.% Fibo and a break of the downtrend line shown. NEEDS TO BE CONFIRMED FOR LONGS!!!!
Confluences
1. KEY Weekly Resistance/Support at 1.4210 holding well.
2. Doji Formation on yesterdays candlesticK
3.Follwing Recent Price Action this is a classic pullback trade
4.KEY DESCENDING TREND LINE HOLDS
5. FIBO 23.6% retracement also acts as resistance here...
This is what I'm looking at for BTCUSD3M on OKcoin.
We have the area 360-365 which is a +OB, nice confluence with FIB OTE.
We recently made two pretty much equal lows.We should have liquidity below, people who got in at +-360 and moved there stops below these recent lows are an easy target for the MM/woodchipper. If we hit this area and trade away from it...
Updating the earlier posts about this bullish deep crab pattern, prices have now reached it's PRZ and completed this deep crab. RSI is showing oversold condition. However, as of this post, I am waiting for a bullish candle close on the hourly chart to take the trade. Prices may penetrate deeper into the PRZ before reversing as is usually the case with extension...
