So, okey, now I think EURUSD will go all the way up to 1.1200 to test that resistance. Hopefully we will see some more upwards movement during this week, but we may also have to wait untill next week untill some movement happens...
You can look at my chart, tell me what you think, and maybe I am on to something...
Thanks, and happy trading.
EURUSD Trading the Bull Flag Formation
A small bull flag looks to be in the early stages of formation.
With DXY still under pressure and expected to fall away a
further 2.5% to 88 over the coming weeks EUR has further
upside in store. Can buy the dip back to the lower parallel of
the flag - if EUR is to remain very positive there will only be 2
strikes on the ...
As you can see in the 1 hr timeframe, you'll see a downward trend emerging in a WXYXZ pattern with the Z hopefully play part in the formation.
Also drawn on the chart was a green support zone which indicates the market moving to the uptrend as the previous candles are touching this support line approximately 4-5 times.
This gives me enough indication that the ...
What we see here is a Bull 123, Hidden Divergence
PA potentially may find support at the 200MA, i can expect a few pin bars down to a previous demand zone at 1.10702/1.10518 and the ascending TL. We look for an entry on the lower TFs to get into this move.
Look like i'm The Bullington Today. Lol