We've seen the completion of a rough bullish bat obviously reversing the trend towards the upside. Similarly, the 50 MA shows a crossing on the price chart almost guaranteeing the possibility of profit. However, the RSI shows overbought, because of this combination of indicators I would expect that the price is most likely going to rise then range around the .382...
We're seeing what looks to be the end of a correction on the much higher timeframes(D). With the divergence on the 4H implying weakness in the bulls which could mean the continuation of the overall trend downward soon. The Fib retracement is exceptionally accurate in this scenario so if price breaks through the trendline and or .236 level go short. However, as...
Rough bat pattern formed and its conclusion is reaching a moderately strong resistance level. Similarly, the fib retracement is almost exact on all previous corrections and resistance so it is definitely implying that this could be the end of the downward trend, at least for a large correction. Likewise, RSI is showing oversold on every significant time-frame with...
Pretty accurate bullish Gartley forming, wouldn't be surprised to see it continue so might as well ride the downward completion. Could short now or wait for it to bounce off the .382 fib level and subsequently reverse at the resistance and trend line to confirm its downward trend.
RSI doesn't show market exhaustion in either area, however, M30 M15 and M5 MA's show intersection and predictably a sooner bullish trend. However, if the candles breakthrough the fib level with strong bearish candles go short in the zone and exit at the next fib resistance level and if the candles indicate a strong bullish reversal enter long in the zone and exit...
EURUSD. Market's exhausted on more than three time frames. Hitting the trend line and close to a resistance level, high possibility of reversal soon.