The market has finally entered the Bear Gartley pattern completion territory. There is a remarkable amount of buying pressure from Greenback bulls though. I will be keeping a close eye on this opportunity!
I usually do not like to see the market indecisive, putting in a pattern completion, while teasing another potential pattern completion, right before a monetary policy release. And here is no different! The market always feels "flustered" or "cluttered" and I can rarely gauge what will happen based on my price action strategy that I love so much.
Clean cut Bear Cypher here on the gbpusd chart. RSI is signaling overbought territory on the 240 and 60 minute time frames. Will we test structure support @1.29 in the nearest future?
Have had my eyes on this pattern since the close, 10/25. As the week of 10/27 developed, as expected, the market pushed up right into the D completion. Do your own due diligence, but I expect this pair to trade lower in the coming weeks. Thats all!
The bearish Cypher was respected. The market is now back in line with the "October uptrend" ahead of U.S.A. September jobs number. EU bulls running out of gas? Prepping for a not so favorable NFP? Hmmmmmmmm...?
EURUSD is climbing up ahead of NFP day 10/04/19. on the 4 hour there are two patterns, one bearish cypher which has completed... And one H&S pattern which has not completed. Will be watching price action closely today.
I might be reaching here but I am looking for a correction wave within the correction wave. Kudos to those of you who did your diligence and caught this move, whether you saw my original idea or not, kudos. FX:EURAUD
ever since the clean break and close above the daily downtrend back on the fifth of August, this pair has been in a consolidation cycle @ the unavoidable 1.12 lvl.
Dropping to 4hr view, the greenback has a hold while momentum is on its side and the euro is successfully clawing away warding off an obvious imminent fall. So I am still short biased simply based...
Is Elliott waving at us? (Pun intended)
On a serious note this is my first attempt to anticipate the correction wave, hence my silliness, so do your own due diligence. I am only sharing the idea, NOT. MAKING. A. CALL.
Hope you all had a great week of trading!