Fibo 38 level -Nice trend line-asending channel-support level tested twice before and showing strength now-Ichomoko cloud in support and stochastic in extreme oversold ( with bullish divergance). That is pretty good for my to long this pair.
Why red candle started at the top of descending channel , RSI over bought (with bearish divergence) and Stochastic the same way?
Why price showing this weakness just at 200 sma and macd also gave a cross ?
It is all signs of warning trend in over here , just stop looking at the small frames letting it mislead you ...
Monthly study provides clearer and more accurate signal with huge pips in pocket.
-MACD said adieu .
-RSI Screams '' Bearish Divergence '' which is shown more plainly on weekly chart and on monthly RSI touched 70 level just to die out again.
Moving Average: Never missed this hot game , therefore ; sent his ...
- Fibonacci Retracement at 50%
- Price respect to this level and form nice price action.
- RSI bounce back from level of 30 (over sell).
- Elliot waves harmony showing end of wave 4 and resume the 5th up impulse wave.
- Bullish Divergence.
- Price get support right above the green cloud of Ichimoku.
-Trend is ...
EURUSD, Can drop more ? Yes it is possible but just caution for the movings on weekly and ICHOMOKO CLOUD, with
a littile thought for bullish divergence (RSI) on Daily.
That make it risky to go against the trend.
Finally, consider that , EU won't interfere in Russia....
My friend traderwgun, I can agree with you that it is better to take two equally significant highs or lows,
(but still I am convinced that when you take divergence as I did my my former chart you will get a note upon
exhaustion of the current price movement ).
however , as to go in accordance with the ...
well , sometimes Forex play so devilish game with us providing two valid views one bullish the other is bearish.
as it usualy does with EUR-USD ....
However I think other times the trick is to put it so easy and clear in such way traders will be afraid and not sure as they
used to complixity !
I say this ...
Now retesting the previous resistance and it will prove support (line red).
today candle is going to close in a bullish pin par setup.
long now and catch the second boat.
we'll meet again to see the trip sailing...
I have posted earlier views to short this pair and it got good profits after that I realised the end of corrective wave 4
with other bullish hidden divergence (on more than three indicators).
add that the green line has been holding as a trend support...
I have opened and closed many positions so far and gained ...