EURUSD reached and is getting rejected at the top of Bullish Megaphone pattern.
Technically every rejection inside this pattern has seen at least a 0.382 Fibonacci retracement.
Trading Plan:
1. Sell on the current market price.
2. Buy either on the MA50 (4h) or after a -1.35% decline is completed.
Targets:
1. 1.07980 (the 0.382 Fibonacci retracement level).
2. 1.09465 (Resistance (1)).
Tips:
1. The RSI (4h) is trading inside a Channel Up of its own. If it reaches its bottom before the pair hits either the MA50 (4h) or completes a -1.35% drop, ignore those and buy.
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Notes:
Past trading plan:
Technically every rejection inside this pattern has seen at least a 0.382 Fibonacci retracement.
Trading Plan:
1. Sell on the current market price.
2. Buy either on the MA50 (4h) or after a -1.35% decline is completed.
Targets:
1. 1.07980 (the 0.382 Fibonacci retracement level).
2. 1.09465 (Resistance (1)).
Tips:
1. The RSI (4h) is trading inside a Channel Up of its own. If it reaches its bottom before the pair hits either the MA50 (4h) or completes a -1.35% drop, ignore those and buy.
Please like, follow and comment!!
Notes:
Past trading plan:
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