- The idea is simple. 3 bearish cs formation on the swing high (last 3rd cs would be closing under the 21 EMA)
- Wait for the retrace and go for short until fibo ext. 261.8%
- And maybe just a coincident if we see here there would be a crossing between 55 EMA and 200 EMA
- Which could trigger a medium / long term bearish trend.
- Who knows ...
Just a simple price action starting from the very first 3 candlestick formation.
Retracement just fine ... price action formed.
Price continue moving steadily under EMA21 but never expected to reach the 423.6% !
Resetting the fibo once again look for more price action which was forming a symmetrical triangle.
Wait for the firm breakout.
Just another average possible yet forming pattern bearish butterfly ... nothing special.
Another shot to the top ...?
Maybe with the US CPI negative's suprise data in next 40mins would do this...?
A divergence would be better.
Who knows ...
The round number 0.8500 just hold. Price looking for the action and taa-daaa ... a fakeout with divergence turned to be a tradeable one .... supporedt with this morning NZD's negatives suprises on the med impact news.
i will be looking for more price action for sure ...
Not a perfect bullish ABCD but it was a good signal ... yet another coming bearish butterfly beyond the resistant level could be a new decision hopefully. Maybe a divergence (HH -LH) soon could be a vital signal ...? who knows ...
1 ... Tested the lower channel ... fair enough
2 ... Head n dandruff ....? oh... did i get it wrong ...? LoL
3 ... Symmetrical triangle as planned as before ...
lock n load guys ... or ... just forget about it.