BREAKING NEWS!!! CRUCIAL MOMENTS
OK i know bait here.
I like to express myself looking at the EURUSD on the daily chart.
Definitely in this one i won't be giving you a music production course.
The pair is trading a Cup and Handle pattern on its daily chart.
The price has formed a price action reversal pattern (Trap) and definitely i don't want to see this formation on a bullish trend, however this patterns are tradable and has the own Fibonacci ratios. I did come across with this formation sometime ago in DXY and the price did resume the bullish trend.
The commands for a cup and handle pattern are to long above the neckline breakout with stops below the mid range of the handle.
If i have to set targets for this trap would be the 1.06522 still above where the SL for the C&H are.
Now C&H Patterns on a daily dont come too often since they take month to form. i have trade C&H patterns successfully with no stops as i remember on the Daily.
Could this one be the first?
While the price remain above 1.06014 C&H ST this pattern is totally valid with a stop of 130 point from Breakout: 1.07362 to below the mid range handle 1.06014 on the daily chart... is easy pissy.
The only thing that am a bit concern is the 1.06522 is where few clusters fibonacci zone has been untouch due to the Trap pattern.
This means that my Crab pattern on the the hourly could become a losing crab and i hope am not wrong since price tends also to don't bother to touch those levels and resume trend.
Resume:
C&H ST:1.06014
Trap reversal pattern could touch 1.06522.
Conclusion: if the resume fail i will come out with one.
I like to express myself looking at the EURUSD on the daily chart.
Definitely in this one i won't be giving you a music production course.
The pair is trading a Cup and Handle pattern on its daily chart.
The price has formed a price action reversal pattern (Trap) and definitely i don't want to see this formation on a bullish trend, however this patterns are tradable and has the own Fibonacci ratios. I did come across with this formation sometime ago in DXY and the price did resume the bullish trend.
The commands for a cup and handle pattern are to long above the neckline breakout with stops below the mid range of the handle.
If i have to set targets for this trap would be the 1.06522 still above where the SL for the C&H are.
Now C&H Patterns on a daily dont come too often since they take month to form. i have trade C&H patterns successfully with no stops as i remember on the Daily.
Could this one be the first?
While the price remain above 1.06014 C&H ST this pattern is totally valid with a stop of 130 point from Breakout: 1.07362 to below the mid range handle 1.06014 on the daily chart... is easy pissy.
The only thing that am a bit concern is the 1.06522 is where few clusters fibonacci zone has been untouch due to the Trap pattern.
This means that my Crab pattern on the the hourly could become a losing crab and i hope am not wrong since price tends also to don't bother to touch those levels and resume trend.
Resume:
C&H ST:1.06014
Trap reversal pattern could touch 1.06522.
Conclusion: if the resume fail i will come out with one.
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The idea seems to be working
wall: 1.07852
The idea seems to be working
wall: 1.07852