EURUSD retracement to form next leg of the 17 April downtrend
Tweezer bottom and Williams %R crossing above -80 on 4H. Good risk to reward ratio even to 0.236 retracement. Marginal AB=CD, but seems to make sense.
Second target at 0.382 retracement, then look for further downward movement to finish another leg of the confirmed downtrend that started on 17 April.
Alternately it could re-test at 1.1302.
The symmetrical triangle is old news but it did work out correctly.
Let me know your comments
Second target at 0.382 retracement, then look for further downward movement to finish another leg of the confirmed downtrend that started on 17 April.
Alternately it could re-test at 1.1302.
The symmetrical triangle is old news but it did work out correctly.
Let me know your comments
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.