Hi everyone:
Last Friday we had some reversal price action across the market, and EURUSD happens to have the best possible development among the USD pairs.
We can see the larger, descending structure correcting the price down to the higher time frame double bottoms.
Price did initially try to push higher from my previous long analysis, but failed to continue higher.
Then we see another corrective move down from the price, forming a smaller lower time frame descending channel.
Latest development shows us a bullish reversal impulse break up, out of the descending channel.
Be on the look out for any LTF continuation correction for the buy up to the recent highs and top of the descending structure.
thank you
Note
Higher time frame:Note
Note
Note
Just got tagged out for both positions for total of 7.9% profit.
Related publications
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.
Related publications
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.