This is a Nodachi pattern on EUR/USD. The Nodachi is a very peculiar formation that give us a counter trend opportunity with an excellent RRR. This structure forms when the market is already extended and possibly looking for a retracement or a reversal on the trend direction.
EUR/USD is forming a beautiful Hizukuri Pattern. If the 4H candle closes above the -15 degree angle, then we will have a great opportunity to buy as long as the pair provides us with a good risk reward.
This analysis is based on the Samurai Method. Here we have a Broken Sword on this currency pair (USD/JPY). The Broken Sword is a a continuation pattern that usually offers a great risk-reward ratio. Once the price structure is measure using The Samurai Method we find the different swords (in this case it is a Wakizashi) and based on a more deeply analysis we...