As I said last week, Eu broke old intermediate lows and make new intermediate lows, all this because dollar reach 97... Now I am expecting that dollar falls that means an up move for EU and all the pairs related to dollar.
I think that EU will make a little retracement and then go around 1.435 or a little bit more. Also I think that EU wont make new intermediate...
As I said last week dollar break old intermediate Highs and make intermediate new Highs, now I am expecting that dollar make a little retracement to 97 and continue falling or just to continue falling until 96.20 0r 96.
For me is a strong sell for the confluence with order block, Fibo retracement, institutional price and Net short.
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1, The Gartley
2, Rising Wedge
3, Bearish RSI Divergence
Target is based on the bottom bound of the Ascending Channel
On the flip side, price can continue to the top bound of the Ascending Channel and then drop
Here you can see my trading channel of XAUUSD. We have NOW a BIG Resistence and we will go SHORT. If XAUUSD will go through our STOP LOSS we have another position to go SHORT. We do not have a UPTREND, here we have a DOWNTREND with lower lows and lower highs. So take a SHORT and take the Money :D
Im still sticking with the same bias which is 1.20000 target by March.
BUY EUR/USD 1.13066
STOP LOSS - 1.12683
TAKE PROFIT 1 - 1.16250
TAKE PROFIT 2 - 1.20000
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very easy trade here. There's a Bat pattern completing right now on this 4H chart and i'm going short, with stops above X and targets along with Fibonacci (0.382 and 0.618 of AD). Positive note: price is in overbought and divergence conditions on the RSI below.
If you have any question, feel free to comment below.
Otherwise, see you in the next chart!