A channel with an oversold condition developing. Look for an increase of volume to get in for longs. Exit on close of bar below trendline.
Stay short below trendline. Allow for 3% pierce of trendline. Close out position for a lose on close of 2 candles above trendline.
The EURUSD is awaiting important market data Wednesday which will shed some light on the next major moves for the pair.
Previous resistance is now possibly support. There is a close above this area with possible support if price holds above this level and clears previous days close.
Look for development below the 618.
Place stops above vol box high, look for breakout to the downside.
Look for correction on bearish harmonic. Liquidate above high.
Look for resistance at this low volume area.
EURUSD has developed above this major trendline, the 1M charts show measured moves to the upside. Order-flow charts show demand as well.
Measured move on the euro in place, look for follow through.
Look for completion of the minor head and shoulders top. Look to ride the downwave possibly for the rest of the session on strong Yen news data.
All Industry Activity Index (MoM) better than expected is somewhat strong for the YEN. Look for completion of head and shoulders formation as well a change in cycle to the downside.
Look for price to develop below the dynamic support/resistance zone. Enter shorts near the resistance for small stops. Formula72 Trading Group - Trader Education, Signal Service, Algorithmic Trading, Live Trade Room. www.Formula72.com www.FuturesTradeRoom.com
Bearish Harmonic Pattern in confluence with long term trend-line. Look for shorts at the .886 fib retracement. Liquidate longs above X. Look for possible continuation into the Eurogroup meeting. Formula72 Trading Group - Trader Education, Signal Service, Algorithmic Trading, Live Trade Room. www.Formula72.com www.FuturesTradeRoom.com
Major consolidation with harmonics resting on top of the daily time-frame trend-line. Bearish warning for declining volume and decreasing momentum as well as eurogroup meeting tomorrow. Liquidate longs on close of D high for technical buying. Also note sequential decline on order-flow charts in effect. Continuation or Reversal is in direction of...
Head and shoulder formation with target at neckline of head and shoulders of the 15M chart. Formula72 Trading Group - Trader Education, Signal Service, Algorithmic Trading, Live Trade Room. www.Formula72.com www.FuturesTradeRoom.com
Look for entries near prior diamond continuation pattern on the 1 minute chart. Green target is based off of the head's measured move. Formula72 Trading Group - Trader Education, Signal Service, Algorithmic Trading, Live Trade Room. www.Formula72.com www.FuturesTradeRoom.com
The diamond is a dynamic pattern, the deciding factor is the direction of the breakout with volume confluence. However, on the order-flow chart we see overwhelming negative delta as well as declining volume suggesting a possible consensus to the downside. Breakout target is measured by the previous extension. Formula72 Trading Group - Trader Education, Signal...