Bear Flag w/Confirmed Bearish Break - EG
Here I have EUR/GBP on the Daily Chart!
Price gave a Bearish Break to the Ascending Channel which confirms we are seeing a Bearish Flag.
-The Volume behind the Candle that Broke the Ascending Channel signifies that it was a Strong and Valid Break
Being a Continuation Pattern, I suspect we will see Price Retest the Break of the Ascending Channel and continue Downward!
-Looking for a retest in the ( .8430 - .8435 )
Indicators:
- Price trading Below 200 EMA
- RSI Below 50
- BBTrend Printing Strong Red Bars
- Volume showing Bears accumulating
Price gave a Bearish Break to the Ascending Channel which confirms we are seeing a Bearish Flag.
-The Volume behind the Candle that Broke the Ascending Channel signifies that it was a Strong and Valid Break
Being a Continuation Pattern, I suspect we will see Price Retest the Break of the Ascending Channel and continue Downward!
-Looking for a retest in the ( .8430 - .8435 )
Indicators:
- Price trading Below 200 EMA
- RSI Below 50
- BBTrend Printing Strong Red Bars
- Volume showing Bears accumulating
Trade active
Price has Pulled-Back to not only Retest the Break of the Ascending Channel but also the 23.6% Retracement @ .84243 suggesting the upcoming Trend Move will be Strong!
- RSI Testing the 50
- BBTrend Printing Large Red Bars
Sell Entry @ .8425
SL @ .8440
Trade active
German ZEW Economic Sentiment Results!!
3.6 Actual v. 17.1 Forecast / 19.2 Previous
A disastrous turnout! The expectation in economic improvement is fading and we will begin to see that weakness show in the EUR.
Trade closed: stop reached
EUR has beaten out GBP and pulled price back up and into the Ascending Channel hitting my SL!Trade active
Price has made a Strong Bearish Break of the Ascending Channel and formed a Valid Lower Low!
-Death Cross appearance above Price with the 200 EMA + DSR
Price Pulled Back and Retested the Break @ .8420
Sell Entry @ .8420
SL @ .8440
Trade closed: target reached
Short Positions Closed! Looking for more opportunities if price tests the Support-Turned-Resistance Zone to continue further down
Trade active
Price came up and tested the Support-Turned-Resistance!
Sell Entry @ .8404
SL @ .8425
Trade active
With the slight uptick for Inflation, BOE decided to HOLD rates @ 5%, feeding GBP with strength making it more favorable to foreign investment!
-Tomorrow @ 1 AM CST, GBP will release Retail Sales!
"An investment in knowledge will pay the best interest." - B. Franklin
Novi's Trading Channel
t.me/+l3fTcsZu91ZiZDkx
Novi's Trading Channel
t.me/+l3fTcsZu91ZiZDkx
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
"An investment in knowledge will pay the best interest." - B. Franklin
Novi's Trading Channel
t.me/+l3fTcsZu91ZiZDkx
Novi's Trading Channel
t.me/+l3fTcsZu91ZiZDkx
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.