The price has breached the strong resistance 1.21310
Expected scenarios:
The collapse continues to 1.20820 on condition that the price remains below the previously mentioned resistance
But if it breaks the resistance 1.21310 to the upside, it can buy and target 1.21765 as long as the price remains above the resistance
Looking at the chart of the euro futures contracts we may spot a possible Elliott Wave Pattern labeled as 1 to 5. It is a potential impulse wave that may soon come to an end. The theoretical resistance for wave 5 is set by 161,8 Fibonacci expansion of wave 1 placed at the end of wave 4.
If this area is defended the market may retrace back as potential wave A in a...
This pattern first started once a week in November and has slowly developed into every other day, retail longs on the extended Euro Dollar have been pumping liquidity to short sellers. The following day usually has a nice pump and the lower lows and higher highs as the "uptrend" continues. Now that stimulus has passed I believe that more big sellers will begin to...
Metrics:
Max Profit: 337.50
Max Loss: 287.50
Break Even: 1.1977
Notes: A bearish assumption directional shot at resistance. Alternatively, FXE January 15th 111/113 long put vertical, 1.05 max profit, .95 debit/max loss, break even 112.05 vs. 112.13 spot (although it's trading above that pre-market).
Above 1.1826 🡪 1.1897 (confident that 1.1897 is a short; 13 year resistance)
Sustained above 1.1897 is super bullish
Below 1.1826 🡪 1.1787 🡪 1.1610
Short the 8hr H&S.
The circle is the first evidence of a downtrend. After that, there was a second move, breaking down the green trend line, and the rising wedge, which is a typical bearish pattern, has emerged. In the short term, I try to approach it from the point of view of SHORT.
in this market we have broken the VWAP indicator with force combined with a significant volume plus the market has a spring effect on the VWAP, means a very important buying opportunity towards the TP
