Week 2: EURUSD Medium-term trend!Hi friends, I hope y'all are having a profitable week ;)
Today, we have a possible medium-term buy trade on this baby. Last week we anticipated the same trend signal on this pair, however, it was dis-confirmed by Monday's bearish candle close below the 8 m.a (dark blue) after bouncing off the 50 m.a (light blue). That triggered our exit signal. Luckily, the price re-triggered our trade signal but on a different key level as y'all see on the chart. Getting this signal, however, doesn't guarantee that we'll profit from it because as we all know that the trading environment is probabilistic. With that in mind, let us look at how the bulls and bears might/will behave in either triggering our trade and profiting from it or not triggering it at all.
Bulls: -If the bearish spikes the 8 m.a and proceeds to bullish break and retest the Mini Daily Neckline and 50 m.a; according to the daily: the price would be in prep to rally for the half a bats L1-L2-L3 together for the 200 m.a and short-term m.a's trend. That will trigger what I call a "Half a Bat A-E.2 signal".
Bears: -If the price bullish bounces off the Mini Daily Neckline with a bearish reversal candle pattern (after triggering our trade), and proceeds to bearish break and close below the 50 and 8 m.a's or if it just bearish closed below the 8 m.a as it is bouncing off the 50 m.a with a bearish reversal candle patter; according to the daily: the price would be rejecting the trade and in prep to form a bearish H&S reversal pattern.
That's it for today. I hope you found value in this. If you have a different idea, feel free to share it in the comments section or privately, I'd love to know your thoughts!
Stay Blessed,
Doji-2k1
