Euro / U.S. DollarShort
EURUSD [Descending Triangular Contraction + Barrier levels]
Observation:
Price movement near the end of the Descending Triangular Contraction
Analysis:
Long Breakout if price breaks 3 barriers namely
1.Two previous peak of the price movement formed resistance (surplus) area
2. Dynamic resistance [ Most important]
3. Previous Waves - if momentum is strong in this area, price could actually break the other two waves remaining to really break the area of triangular contraction (descending)
Short Breakout if price breaks 2 barriers namely
1. Small wave movements indicated by a blue line (same slope with previous waves)
2. Dynamic support [Most important]
*** Dynamic support is not horizontal rather leaning downward, in favor for price downtrend.
Conclusion:
Short has a higher probability of price movement than Long.
Price movement near the end of the Descending Triangular Contraction
Analysis:
Long Breakout if price breaks 3 barriers namely
1.Two previous peak of the price movement formed resistance (surplus) area
2. Dynamic resistance [ Most important]
3. Previous Waves - if momentum is strong in this area, price could actually break the other two waves remaining to really break the area of triangular contraction (descending)
Short Breakout if price breaks 2 barriers namely
1. Small wave movements indicated by a blue line (same slope with previous waves)
2. Dynamic support [Most important]
*** Dynamic support is not horizontal rather leaning downward, in favor for price downtrend.
Conclusion:
Short has a higher probability of price movement than Long.
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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.
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.