Here is a simple bearish flag continuation trade on EURUSD
Heavy bearish move last week followed by some nice consolidation on the 1hr timeframe. Price is now rejecting the Fib 0.382 retracement level with multiple wick rejections.
SL = 30 pips to put it above Fib 0.618 level
Profit target is at the Fib 1.618 extension level to take advantage of the bearish momentum.
A GREAT OPPORTUNITY DUE TO MULTIPLE TIME FRAME CONFLUENCE
•1W - Current Market has reached the top of the weekly Trendline. The closed candle that had occurred for this week suggests that a strong rejection has occurred when observing the length of the wick. This long wick above the body suggests a rejection of the linear level which can therefore be followed up...
Key strong support / resistance level is pointed out with our arrows ( if you follow us you will know this )
We are expecting price to retest this level ( its not far away ) and then bounce making a lovely bullish run possibly up to our next resistance level ( top green line )
Use this in line with your own analysis, so if you loose your house you cant sue us ;p
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EURUSD long target price 1.1471 EURUSD performs symmetrical wave motion on the wave axis (green line). If this movement continues, it is advisable to take a long position at 1,1309 for intraday trading. Target price 1,1471