We are in overall downtrend on W, D
there is nice bearish pinbar from Friday (for confirmation we need break and close below)
I used current level as retracement for short position and will add to this short if price will continue higher around 1.2970
1. we are in overall downtrend
2. price is under MA on 1H and 4H
3. possible head and shoulders formation (need to wait for break of neckline)
4. cypher pattern will be filled on 78,6 Fib
After 2 winners with short to previous support and long to current retest of high, there is opportunity for continuation higher
1. price is above MA on 4H, 1H timeframe and there is 80 pips of potential profit with RR 1:1 (SL below 1.307)
2. wait for break of current resistance (save approach is to wait for break and retest)
3. target area around 1.3240 (where...
1. we are still in confirmed uptrend, so it is logical to expect move up to 112.00 (small resistance) if broken we can target area around 114.00
2. if resist on 112.00 hold we can expect market to continue lower to 61.8 fib or even lower to 108.50
3. if market broke straight under 111.00 wait for retest of this level and target 61.8 fib or even lower to 108.50
as we are in consolidation there are several ways to trade this market
1. sell current level as we are in confirmed downtrend and target area 1.159 or lower level 1.152 + 2cd level is also good place for short term longs
2. if market break small resist on 1.1672 there is potential of 40 pip to 1.172
3. if market break 1.172 wait for retest of broken falling trend...
1. descending triangle
2. loosing momentum, price is not creating H3C
3. RR 1:1
4. there is option to wait for double top at 112.700 for better RR
5. best way to enter is to wait for break of descending triangle and retest of broken support
- 4H double bottom reversal pattern with divergence is valid = long opportunities
- We have H3C candle above 1.164 level what indicates further movement up
- every retracement below area 1.164 will be good for new long opportunities
Targets
1. 1.173 as previous level of support
2. 1.183 as previous level of resistance
There are 2 options for this movement:
1....
EUR/USD hit my my target around 38.2 and 61.8 FIB retrace
after divergence created + pinbar on 1H I am long on this pair with target area around 1.200 = structure, previous highs and 127.2 FIB extension
