Eurjpy did a good rally upside as we predicted (see idea attached) and now it did a very nice rejection of the monthly R1+weekly SMA200 and 50EMA with a bearish engulfing candle on weekly timeframe.
On daily chart we can see that a doji candle show that market might pullback before the sell off resumes and therefore....
We should keep a look on H4 timeframe, a...
Com o inicio da semana vemos o movimento alcista dos Futuros do Euro .
Como se pode ver no gráfico, é um movimento que já se tinha iniciado, com muito ruído e volatilidade.
Com a rotura e, com uma espera cautelosa da confirmação da mesma, pode dar inicio a um tramo alcista interessante que deverá arrastar, em alta , os pares do Euro no mesmo sentido.
FINRA NYSE & BATS FXE (Euro Dollar Etf) short sale & CFTC COT EURO CME, also spread of CME present EURO contract with EURO 2022 contract, trying to guess witch way euro goes in the future based on future expected expectations...
Price is at resistance zone with a pinbar ytd.
Weakness seen in the chart.
Likely to go down further.
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Trailing stop hit on previous deal with a nice pyramid taking 345 pips and went long at 1326.
We had a 7 day move without a reaction so expecting a good move but being a trend follower I have no target but rely on my systematic approach using chaotic trading theories.
Some good reasons to be long here evident in the chart
Gartley worked amazingly wel, I was looking for a bounce but had no idea it would just explode like that.
It was far too fast for me to get a trade, it would have been against my rules anyway since I really only trade double or triple bottoms.
So plan is to look for that double or triple bottom this week. It's realistic to expect it to test that gartley D point...