EURUSD 4H Saturday, April 8, 2017 [Saturday]
Updated
Observation:
Price Action inside upward channel and now is going down at dynamic support.
Analysis:
Price Action will go inside the small upward channel, upward & downward slope copied from previous price action.
RSI overbought.
Conclusion:
High probability of price respecting dynamic support (blue line) and therefore go for long.
Strategy:
On Monday, wait for price action to come down to dynamic support (blue line) for a tighter stop loss. Observe candlestick formation and RSI value.
Price Action inside upward channel and now is going down at dynamic support.
Analysis:
Price Action will go inside the small upward channel, upward & downward slope copied from previous price action.
RSI overbought.
Conclusion:
High probability of price respecting dynamic support (blue line) and therefore go for long.
Strategy:
On Monday, wait for price action to come down to dynamic support (blue line) for a tighter stop loss. Observe candlestick formation and RSI value.
Note
Price moving as planned at Upward Channel (Small & Big)Acknowledge support level at 1.06024.
High probability of LONG.
Note
Price still moves inside the upward channel.
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