EURUSD - Long
Updated
Mid-term Shark. I don't like to wait for the completion...D is the greatest opportunity (and maybe risk), rather than waiting for the PRZ.
Lots to look at here; perhaps too much.
Start with the easiest - RSI DIV.
LT pattern - upside down cup, though there is no indication of handle, just a really nice arch.
Recent low has confluence at downward sloping flat top triangle, cup and LT double tap support. Top of triangle is also ST resistance.
Consequently, T1 is 38 retracement of D and T2 is both D and 50% of cup.
Potential for a pitchfork with top at D. Consistent time frames seems to work, as well.
Thoughts?
Lots to look at here; perhaps too much.
Start with the easiest - RSI DIV.
LT pattern - upside down cup, though there is no indication of handle, just a really nice arch.
Recent low has confluence at downward sloping flat top triangle, cup and LT double tap support. Top of triangle is also ST resistance.
Consequently, T1 is 38 retracement of D and T2 is both D and 50% of cup.
Potential for a pitchfork with top at D. Consistent time frames seems to work, as well.
Thoughts?
Note
No longer a Shark - in the Cypher zone. Could drop little further. All opinions of course.
Note
Mar 2020 support...upper end of Cypher ~ 1.41. Trying again after being stopped out a while back 1.0740.
Looking for XA retracement @ 1.09 at a minimum. T2 probably around 1.12.
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