Scenario 1 I've been in this trade for quite sometime now. I just want to share this, im long on this trade with targets set at .77899 im expecting this pair to go up based on the EMA, and the false downside breakout on the MACD. A break below on the bullish trendline and horizontal 50% fib level plus a low volume, and a red bar could change my mind in this trade...
As i mentioned in my previous posts, an almost complete Bearish Cypher pattern is in the works, as well as a possible Bearish Gartley could provide a retest of the recent Highest High for the pair.
Observed here is the continuation of the Bullish Trend Line we have since Nov. 12, 2013.
In my post "Part 2 Bearish Essentials", conditions were met (4Hr Oversold...
A highly probable Bullish Cypher pattern in the Highest High of this pair (the 1.27 extension from Point A @ 1.68215) could drag us down to 1.6400s to 1.6380s. In the near term, a Bullish Bat Pattern could emerge if the conditions becomes favorable. (ATR less that 25 with extremely oversold RSI -20 at a 4hr chart) projecting the pair up to 1.6900s. Could be...
