Based on my analysis, at level 1.1500 we have a potential short based on:
- equal measured move AB=CD
- bearish bat pattern for those who want to short at market right at that level( I usually don't trade advanced patterns formations; I haven't been able to be profitable on them but we can have it as an extra confirmation for the short term down side of this pair)
- 1.618 Fib extension near our 1.1500 level
-previous structure resistance
It seems we have broken our downward channel, and I do have a bullish bias on this pair, but as for now I will look to trade a counter trend move.My reason for entry will be a conservative one, so I will be looking for a lower low lower close candle at the indicated level, or a double top with bearish divergence at that level.
- equal measured move AB=CD
- bearish bat pattern for those who want to short at market right at that level( I usually don't trade advanced patterns formations; I haven't been able to be profitable on them but we can have it as an extra confirmation for the short term down side of this pair)
- 1.618 Fib extension near our 1.1500 level
-previous structure resistance
It seems we have broken our downward channel, and I do have a bullish bias on this pair, but as for now I will look to trade a counter trend move.My reason for entry will be a conservative one, so I will be looking for a lower low lower close candle at the indicated level, or a double top with bearish divergence at that level.