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Trendpattern

EUR/USD: 11/05. BREAK THE TREND TO BUY DOWN BEFORE PPI NEWSEUR/USD seems to be seeing more clear signs of rejection of the resistance that formed the top of the shallow uptrend channel from early January, with strong daily and weekly downside momentum. The support below at 1.0945 has established a near-term top and we look for a test of the 55-DMA at 1.0835, ideally holding on a close. Even so, below will warn of a more significant potential downturn and test support at 1.0545/1.0488. However, above 1.1098 would suggest we could see a final leg above our 1.1187/1.1273 core target – 61.9% retracement and March high. 2022. Our bias remains to look for an important top here.
Short
by DNA_TradingFX
Accumulation Patterns - very bullish background Coterra EnergyAssessing the market according to the wyckoff method, we see a classic accumulation in the attached chart. 1.2.3 - Shortening of Thrust - smaller and smaller distances between particular lows on the chart. A sign that sellers are losing power. 833.263.173 - decreasing volume on lows. The numbers in the chart are the sum of the number of shares sold on swings divided by 100k (ex on chart 833 = 8,330,0000) 742 - The largest buying wave in the system confirms that institutional capital has been pumped in. A very interesting last candle suggesting that there is still an upsell and most likely we are dealing with the absorption of short selling by professionals Value with a large potential range of growth Indicators used: Wyckoff Wave Chart What do you think about this chart? Follow us for updates!
NYSE:CTRALong
by VolumeDayTrader