On the EURUSD we have a potential bearish bat pattern forming. Entry: 1.08400 Stop: 1.09469 Target 1: 1.06364 = R:RR 1.91 Target 2: 1.05180 = R:RR 3.02
Based mostly on Market Profile and Price Action (daily charts) the strongest levels for short swings are 1.0710 and 1.0765. Heavy volumes were traded between those levels (accumulation) followed by strong rejection of higher prices resulting into renewed sell-off. I think that the sellers will be active there again.
Only thing to watch out for is ECB meeting on Thursday. Basically anything can happen there and I won't be trading during this event.
You can see my analysis here:
11021992
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@Trader_Dale, Thanks for sharing. I see that your trade got triggered, good luck! I'm waiting a bit to get a better R:RR.
Yabi
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So, the market is in a phase5 advancing posture, and reset 1.0620, with a trading space of (>100<) ticks from 1.0625-1.0725. Buyers zone 1.0634-1.0621. Coming at ya!
11021992
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@Yabi, Sounds very interesting! Mind sharing that with a chart?
Only thing to watch out for is ECB meeting on Thursday. Basically anything can happen there and I won't be trading during this event.
You can see my analysis here: