The strength of the downtrend has been confirmed. Two rising wedge are close to breakout. A daily close below 0.5621 may confirm this short trade. Rejection of MA 26 and MA 58 on 4H timeframe. Best Regards, Serge
Added the minor Elliot ABC retraction wave before uptrend continues with new Elliot Wave Also spotted a nice divergence and a classic M Market structure. Just need to get my volume profiles up and running so I can look at the Rejection area's for plotting the waves.
In its prominent down trend, price continues to have pronounced consecutive cycles below the 20 ema pushing EUR/USD lower. Today’s bearish reversal bar bumped just shy of a past level, now acting as resistance, at 1.2500, and closes below 20 ema and 0.618 Fibonacci level. If a short trade does not trigger a re-entry can taken at the test of 50 ema and/or...
As stated in a previous idea () this pair has already been rejected on major daily structure. Now is setting up a possible head and shoulder pattern on lower timeframe (4h). Many pin bars formed on Friday showing price rejection below left shoulder level of the formation. Action: On Monday look for price to not gap nor open above pin bar's tails and sell at...
Price action has maintained a falling direction with passably uniform cycles below the 10 ema and trend line resistance offering entries below conspicuous high test bars. The moving averages are in their correct order and fanning out pleasingly. Tonight's set up is also an entry below the high test bar that has rejected resistance at ~17.60 and bounced off the 10...
The Yen has been building in strength through the summer. Here price has entered in to a small range(within a larger downtrend), with price being rejected at the .618 fib retracement and the resistance line, which created a confluence of resistance. Recent candle wicks show rejection at the 101.800 level, so I suspect this retracement may becoming to an end. ...