I have seen countless charts for the Euro with trendlines that are typical to the yellow one I drew - they all hit somewhere at 1.05. If you trade using trendlines or incorporate them in your analysis, then you have be as objective as possible with them. The only way we could really be objective about trendlines is by perfectly lining up price points. Using that...
It's Friday...I'm feeling burnt out, so we're going to keep it really simple today. Potential Bear Bat Pattern. There you have it. It is pretty cool that we get some extra fibonacci confluence in the form of an 61.8 retracement & a 161.8 extension but at the end of the day the pattern is all that really matters to me.
Other pairs on my radar today are the...