Seeing how the Thursday's candle closed with a huge rejection of our 0.72500 quarter level, Then us having on Friday price trade to the downside or being bearish, there's a possibility that price might break the short term uptrend it was in for at least nine days which began when price gave us a bullish engulfing candle at 0.70000 Level, making us believe that it...
We can see as analyzed earlier, price slowly rejecting slowly rejecting our 50 Fibonacci level, still keeping the structure of the market.
So i'll be waiting for a moving average crossover plus a break of structure on the 15minute timeframe (a lower high), selling it down to the next support having my stop loss at the previous high.
But still, the market can do...
Just as my mentor Swaggy C says "price doesn't retrace off a key level, it's actually a reversal" Price reverses of 1825.000 "Pysch level" and is obviously going down but still these pysch level have so much power in price, and there is a big chance that price might continue heading down or up (do not have one specific bias to the market, because price can do...
On EUR/USD, We have an ascending triangle pattern, just remember that an ascending triangle pattern works both ways (for buys and sells) look at market structure as a whole and we see higher lows over and over again then a serious bearish move, then a closure above the last higher low (which simply means it did not break)
Just watch it, as i am new to trading
Thank you
