Simple chart analysis for EURUSD
Updated
Recent news downtrend E.W. finished on m15 timeframe, but H4 and H1 timeframe don't have the structure. Therefore, another bearishtrend should form to complete the E.W. on the higher timeframes.
- Bullish E.W. on m15 will start forming.
- I used a repeated 0.40% zones for retracements, but probably will go directly to 300%.
- Note: Probably whales where thinking on getting the reverse of this downtrend, so it will be beneficial for the market to keep falling.
- There's a volume correction that haves to be done on M1 timeframe. It is likely that this year will end chart doing the correction. The correction is on 0.96k
Trade active
300% of E.W on m15 t.f.
Note
SL of the m15 t.f. trade reached.Bullish m15 E.W. was well made, so, why it didn't reach 300%? The reason why it didn't reach the 300% was that a previous bearish m15 E.W. didn't reach the 300%. Do you remember my other post that I closed the trade early because 300% was hitted on 100R and not on m15 t.f.? It was that. Market didn't care of the 100R chart and give the importance to the 15m t.f. .
I hope this helps other traders too for expirience and explanation of losses.
Trade active
Trade active
As predicted, is going complete bearish.
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.