I think that the EURUSD has more room to move to the upside in this megaphone but the primary trend is down. I'm not trading it to the upside but I'm looking or anything over the 50% line as opportunities to open short positions
EURUSD is currently at strong resistance which it trying to break on 11th March 2021 & 18th March 2021.
It's a good opportunity to short EURUSD right now. We will look at TP on next strong support level which is at 1.1870.
Good luck on your trade.
Regards.
Amazon is making perfect parallel channel and we are looking if price breaks parallel channel, short position can be opened when daily close is below 1720 for a target of 1410.
Another confirmation is to wait for bearish candle on daily right below channel. SL 1850
If price continues going down below 1410 it will complete double top formation. Price breakout...
1) Intraday market direction is short
2) In a Bearish Channel
3) Minor support &resistance
3) On the verge of breaking the last HL which is also a support which will create a new HL
and a indication of a trend continuation
& more..
Expecting price to rally down to around 1311.2
This bearish bat pattern could possibly form in the next day.
Coupled with the pattern is bearish divergence on the RSI, which has already ventured into overbought territory, so hopefully does again once the bat forms.
Price has rejected the weekly trend-line with a hammer candle indicating a sell opportunity.
The Swiss has a safe haven status and as this week has a lot of event risk and non farms for the Dollar it is likely that investors will hedge the Swiss as a proxy for Gold against the upcoming risks associated to the Dollar.
Bearish Cypher pattern on its way to forming on Platinum priced in US dollars.
Upper black line shows good previous structure , which I use as a stop loss.
Lower black line shows good historic support (zoom out to see more), which the larger green box indicates as a third target. The other two profit targets are based on Fibonacci retracements.
