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Structureanalysis

Massive Bearish Bat PatternThere is a massive potential bearish bat pattern currently setting up on the EURUSD. Now this pattern is on the Daily Time Frame, so make sure to check your risk. If you use a 1 ATR Stop, you will have 200 pips of risk. If you can handle the risk though, this is a very nice potential opportunity. This will complete at 1.11896 with minimum stops above X at 1.12989. Target 1 will be at the 38.2 Fibonacci retracement level (1.08651) and target 2 at the 61.8 retracement level (1.06646). As always, follow your plan. Good luck and good trading.
Short
by tommyb35
Understanding Structure, Support and ResistanceAs shown on the graph, structure analysis could be very useful. Resistance line: Use maximums and connect them to draw a resistance line which means that whenever price comes to this line it cannot break it, ther is a strong resistance, forming a trend. Once broken, though, it is a good opportunity to BUY and profit from price increase. Support line: Similar logic to resistance, however, this time all minimums are connected in order to establish a lower bound for price fluctuations. Once broken, it suggests that price has a strong downward momentum and traders can benefit by SELLING.
by DzhuneytYusein