Hovering around .5 Fib level. Waiting for a break and retest of structure. Could be new Highs and Lows that form, but currently, its on a huge 4hr downtrend as well as smaller time frame down trend. Indicating to sell. But Price more than likely will respect that .5 zone. Lets see! Lmk what you think
Price is in a Flat channel on the 4hr timeframe... Price simply can't make it past this resistance zone , rejecting it a few times. Probability speaking, price should be headed toward the downside. Let me know what you think!
Price is in a Flat channel on the 4hr timeframe... Price simply can't make it past this resistance zone, rejecting it 7 times. Probability speaking, price should be headed toward the downside. Let me know what you think!
EURUSD is on a overall (Larger timeframe) uptrend. This allows me to capitalize on the extra probability and search only for long possibilities. Fortunately there is always an exception to the rule. The head and shoulders indicated a shift in direction recently this week, doing so allowed there to be a smaller timeframe down trend. Which I believe was short lived....
Due to the fact that theres downward pressure on the higher time frame (4hr) I believe that bears are winning at the moment. Meaning I am looking for short positions. BUT, I need help understanding what to do if price is still over 200 EMA AND consolidating at a tested support zone. If my predictions are right, there will be a break of support, making a new LL,...
