Thoughts on EURUSD (Bearish possibilities)
Updated
Hello again!
I have this deep analysis on EURUSD on 2 possibilities to go short based in my analysis on trend analysis, chartism and mostly harmonic patterns. I'll explain the 2 scenarios I have and take notes for it to be possible.
Possibily 1:
Last week an ideal bullish AB=CD pattern with 0.618 : 1.618 ratios was formed and if it still goes up it could complete a shark pattern entry 2 that coincides with the ending if an AB=CD pattern with ratios 0.382 : 2.24 is also formed. The zone is by itself really harmonic, but we have to wait carefully and I'm expecting it to react at 1.08210. Although is looks like a really good zone to sell, there are 2 ways that this analysis could be invalidated (either the price falls under previous low formed or it is not formed until june 8th). Anything is posible in the market, so I recommend to watch out that zone in blue.
Possibility 2:
Remember that I shared a bearish idea because of a rising wedge and it has hit TP1, but because it hasn't gone up, it's still valid and that's possibility number 2. If the price falls under previous low (invalidating possibility 2), we can expect the price to retest at 1.0705 and go to the final TP on the rising wedge. I recommend you to wait for candlesticks confirmation and then sell.
Now if it goes up and consolidates between and nothing interestingly happens, then discard both possibilities, I'll update if necessary.
Do you have any other ideas? Let me know on the comments.
I have this deep analysis on EURUSD on 2 possibilities to go short based in my analysis on trend analysis, chartism and mostly harmonic patterns. I'll explain the 2 scenarios I have and take notes for it to be possible.
Possibily 1:
Last week an ideal bullish AB=CD pattern with 0.618 : 1.618 ratios was formed and if it still goes up it could complete a shark pattern entry 2 that coincides with the ending if an AB=CD pattern with ratios 0.382 : 2.24 is also formed. The zone is by itself really harmonic, but we have to wait carefully and I'm expecting it to react at 1.08210. Although is looks like a really good zone to sell, there are 2 ways that this analysis could be invalidated (either the price falls under previous low formed or it is not formed until june 8th). Anything is posible in the market, so I recommend to watch out that zone in blue.
Possibility 2:
Remember that I shared a bearish idea because of a rising wedge and it has hit TP1, but because it hasn't gone up, it's still valid and that's possibility number 2. If the price falls under previous low (invalidating possibility 2), we can expect the price to retest at 1.0705 and go to the final TP on the rising wedge. I recommend you to wait for candlesticks confirmation and then sell.
Now if it goes up and consolidates between and nothing interestingly happens, then discard both possibilities, I'll update if necessary.
Do you have any other ideas? Let me know on the comments.
Note
Check the possibility 2 and wait for the restest.
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