EURUSD is moving in a bigger wedge formation and reached lower rising support.
Price dropped in 5 Waves from the top of the structure.
And the fifth wave was also made out of 5 waves.
We have a nice RSI divergence between wave 3 & wave 5 on the 1H chart.
Price is forming buy signals:
Position was taken on 4H on the break of the outside bar (forming morning star pattern).
Price dropped in 5 Waves from the top of the structure.
And the fifth wave was also made out of 5 waves.
We have a nice RSI divergence between wave 3 & wave 5 on the 1H chart.
Price is forming buy signals:
- Pinbar candlestick on 1H
- Morning star pattern on 4H
- Double Bar pattern on 8H
Position was taken on 4H on the break of the outside bar (forming morning star pattern).
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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.