Spotted good stop hunt, if the Yellow line breaks, i'm in :)
I know it's from yesterday, I took this short. This is a great example of Yellow Line Break. Always Search for the BatMan
The chart describes an interesting setup. I'll go short now with a small risk of 0.50%, aiming for the targets below. Time at mode signals these areas as potential targets and reversal zones, and there's interesting fibonacci confluence there as well. The fundamental background also suggests it's possible to see this setup pan out. Whatever the outcome of the...
$EURUSD Has broken below the ascending triangle bottom and looks set to break through the Double/Triple Top confirmation level 1.0720 (4h close). Another possibility is a rally off this level and a retest of 1.050 but we think this Triple/Quad Top/Double Bottom scenario is less probable. Look to sell any rallies into the broken triangle bottom or LT channel top.
$EURUSD is trading within an ascending triangle (bullish). Regardless, Friday's rally stopped well short of resistance and Monday's gap higher was also futile. We are still calling for bearish continuation but expect a correction to the triangle bottom at the very least. Bullish fundamentals are lacking - shorts valid against triangle top/1.1051.