I can see that price has been bearish from the top at about 1.615€ ...
Now that price seems to have pulled back at 50% around 1.556€ at the beginning of last week.
Price actually ended up last Friday with a nice tail around 1.532€ at a nice support /resistance
Which tells me that price may be ready to go further down forming a nice XABCD pattern.
price has been...
Price is forming an XABCD Pattern in the right Fibonacci ratio's so far. Price is currently sitting at a strong resistance currently, so could take it for a sell right down to the target buy area.
Place stop loss just above point A.
Take profits at the various support levels throughout.
Last time I called this it moved ¬800 pips.
There could b a couple of different shorting opportunities setting up on the EuroDollar this week. The first one I'm interested in would be this bearish Cypher pattern, using standard pattern entries & targets.
Within the C-D completion leg of the Cypher pattern, there is also the potential for an equal measured move, which would then complete up towards the...
Prices have entered this bearish pattern form emerge. Hopefully it should the go down around the 0.94 area and spike back up to Take Profit.
Pretty simple setups, if you want, you can go sell short and wait for it to spike up and buy or go through the traditional route which is to wait and buy at supposed spike.
It's formed a XABCD and another triangle to show the predicted movement of the market it's heading to.
It's hit the resistance line twice already from previous moves and every time the candlestick hits a resistance line, it continues to crumble and gets pressured to lower the price.
I am hoping it will continue to lower because it has already hit a resistance...
There seems to be this possible XABCD pattern that will be occurring when the market hits the resistance level. This is a possible reason on why it may reverse at this level, it is due to the fact that the when formation hit A at that level, prices started to go underbelly aggressively so I am hoping for a move similar to that previous downtrend.
Spotted a XABCD pattern that occurred and this indicates that the market will long.
Last move before the market closed, retracement showed 0.618 which indicates the pull back to go long and the profit target used shows a desired profit area of 2.618.
Small stop loss but should look like a potential market to follow as there are long opportunities to seize in the moment.
Potential long term uptrend.
Market has been in consolidation and has created a double bottom formation but has not acted upon it so I am safely assuming that it will break the little trend-line and break to the upwards.
Price must break the first trend-line in order to see a potential long movement.
I see a potential downtrend using the XABCD pattern.....there's a pattern going as well for instance, it's touched resistance 3 times and touched support 2 times..
Also looks like a bearish flag formation has occurred as well so you should hopefully see market break through the 1.68610 support line.
USD/CAD has broken through support and has been rested three times, I've used the 4h timeframe to check the prediction and also used the 2hr/2hr timeframe to enter my trade.
I have used a XACBD pattern which shows a bearish cypher pattern. A new triple top has emerged which would indicate that the market will fall heavily.
Hope this is beneficial and everyone...
Possible downtrend using the XABCD cypher pattern and I've also used a trendline which shows a downtrend in movement?
Don't really know how to use cypher patterns so guys only give constructive criticism.
Could possibly retest the trendline and go short.
Take care guys and trade safely.