EURUSD: 4H Potential Gartley PatternOn FX:EURUSD , it is clear that bulls are in control of the price. They pushing the price up and there is no sign of bears yet. So, when do we expect bears to step in and bulls start getting their profits?
The next structure high is at 1.906, however, it is not a strong level to go short. Bears would not lose their battle so easy, as they momentum and big bars show that they are committed to buy.
However, there is a next structure high at 1.1034. This is the resistance level, price respected it few times and it is expected it will do it again. That the best level buyers to lock their profits. Also, most of the institutional orders will be place at red zone. We all know that, big orders mostly placed on key levels.
In addition, there is a potential gartley pattern, which guides where to enter, and exit. This set-up is a good opportunity to go short.
T1 - 38.2%
T2 - 61.8%
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Sellers
EURJPY: BAT , Go LongOn FX:EURJPY , the price dropped significantly today and it is getting close to structure low around 131.638. Sellers in control on 1H bars, but it is expected that the they will take their profits at structure low and new buyers step in , which increase the EUR value against JPY.
Moreover, the valid Bat pattern appears, which gives clear guidance where to enter, take profit and put stop loss.
T1 - 38.2%
T2 - 61.8%
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