Price still developing flat range of 3200 — 4300.
So we need to take advantage of it, and take entries as low as possible inside it and place your take profits in range of 4100-4300-4600.
Spread your position size inside 3200-3300-3400-3500 range.
The price formed double top at fibo 1.618 level, created zig zag. B leg in larger degree is above invalidation level, which tells me that this pair could be bulish up to complete running flat in following days...
Long term bulish zig zag formation. Leg A has 5 subwaves, so expecting is that C leg would also form into 5 waves. In following days price would consolidate around 0.38 of fibo retrace, and price should going up.
EURAUD showing slight weakness for a short opportunity.
1Hr Bearish Engulfing and a 4Hr bearish engulfing.
This is also completed a three wave structure to commence the C wave.
Yellow Projection: Our preferred scenario to fall to the area of accumulation. Look for any sells through to this point.
Divergence between two peaks of RSI and we have the stochastic...
Currency pair EURUSD approaching to very strong support build by Zig-zag formation and strategy fts, so cluster Fibonacci levels 161,8% and 61,8%.
Besides in this level is formation well known from classic technical analysis named head and shoulders
This looks like a completed five wave structure to me. Now we should see something like an Zig-Zag to the 0.618 fib level and this big resistance line. Also there is a bullish divergence on the RSI. If you are trading this, you could set you stop-loss under the support line.
With a double bottom both at Circle fibs and Margin market, still spot didn't cross the 4H MA, by crossing it, rocket will fly ! On the other side there is a very close support to look for as market could still go another trap !
Circle green dashed curve is the support to monitor, with MA also on chart !
If you like my charts show some sort of support please ?
I bet my money on further price declines as I believe we are seeing a zigzag correction unfold. I project its wave B to reach a maximum of 50% of wave A because the latter was rather steep and, as Alexander Elder has wisely put it, "a man who's fallen from the second floor will not walk again for a while." That being said, I'm also conservative as to how far wave...