EU50 to fall fast to 4382
Updated
After months of bouncing up and down, the EU50 is under severe bearish pressure and it appears that the pressure will continue next week until we hit the Weekly support price area around 4382.
As price consolidated for such a long time, the force of the trend seems to be correlating.
Stop Loss and Take Profit suggestions are labelled on the chart.
What do you think?
As price consolidated for such a long time, the force of the trend seems to be correlating.
Stop Loss and Take Profit suggestions are labelled on the chart.
What do you think?
Note
The red line on the chart should read: "Support on the Weekly Timeframe"Note
Since the initial impulse down, the Price has pulled back strongly BUT this appears to be a "Bull Trap". I can see a massive "Bear Flag" on the 4hr Chart, which explains the choppy price action this week. If this is a "Bear Flag" and it breaks, the monster move will completeTrade closed: stop reached
The bullish pullback was significantly stronger than expected!
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