I closed my short. not enough rejection for me. I will be short again at this level or on my previous chart TL break/retest.
Descending widening structure. IF UTL breaks enter on retest
Possible bull flag. I buy at 38.2 fib for continuation bullish trend.
Its a bullish pattern. I have no better entry price yet then the green area.
looking for continuation of bearish trend from here on.
plot it in your own chart, metatrader with oanda gives different results.
The bull was weaker then last bear so a bounce is well possible. But the support area is strong so i think the red line may break on next test.
2 strong trend-lines could be a turning-point..
point b is average. point c is good. no ab=cd pattern. resistance at D.
My strategy for eu is: 1) buy from green area. 2) may form libra pattern inside red congestion area. 2 waves ahead is as far as i go so we will see afterwards.
Then it looks bearish.. could cause bearish chain reaction.