mavicozas

mavicozas

Price keeps breaking support while respecting resistance which suggests bearish order flow. In line with this, I expect the trend to continue downwards.

mavicozas

We have seen price create a higher high and no lower low yet which suggests we are still bullish. The support turned resistance may induce sellers to get into the trade. The upward trendline is likely to trap buyers hose stops may be hit on the initial move down before price moves up to creae a higher high whilst liquidating stops above the equal highs above.

mavicozas

Price has taken out seller' stop losses on that push to supply. May be headed down for the buyers that go in from demand

mavicozas

last week saw a run on the buyers' stops, with that I believe we are headed up after trapping trendline seller's on this 3rd touch.

mavicozas

Price has taken liquidity above supply and dropped. The next move might be after buyers' stoplosses

mavicozas

Sellers' stop losses have been hit which now leaves buyers stops as the target.

mavicozas

After the false support break, price is expected to go up.

mavicozas

After setting an obvious downward trend for a few days, there is enough liquidity collected from trend followers to go against them.

mavicozas

The support at 1.3120 seems to be breaking, should it break we may see price bouncing off at the next support only to retest the new resistance at 1.3120 then head back down from there as the right shoulder to the head and shoulder pattern that would take us down to the beginning of the formation.

mavicozas

Resistance has held a possible Head and Shoulders if the immediate support is broken we are looking at the second. Price going above the red area invalidates the idea

mavicozas

Resistance may hold and if it does, it may be a good idea to sell the pair.

mavicozas

waiting for price to hit support and bounce back to test support above, will take a buy option on confirmation. Take profit 1 at first resistance then target Profit 2 at the following resistance