Hoddgittoo

Hoddgittoo

-hit TL for a 3rd time with a very strong bearish candle. -bounced off 61 fib. -bottom TL in confluence with strong weekly support. -A, B, C pattern formed. D will complete on weekly Support (yellow)

Hoddgittoo

- bounced off of February-March 2017 support. -strong daily bullish wick. -H&S pattern formed on daily. -broke, and bounced off 2HR trend line.

Hoddgittoo

n hour ago Bears have taken over on previous weeks as we see long wicks on weekly chart. However, bulls will take over around 1.2800 (area 1) known as a strong weekly S/r marked in the chart. This S/r is seen more on daily timeframe . Also near 61.8 fib level. If movement goes below 1.2800 area, we will not see a reversal between 1.26000-1.27000 (area 2) weekly S/r.

Hoddgittoo

Believe EU will bounce back up to 1.4550 area before it makes move back down to to strong daily 1.3000 resistance. After it is pushed back down, double bottom will form to start bullish rally, or break below 1.3000 area to continue bearish movement.

Hoddgittoo

Believe EU will correct itself to the 1.450 area before it pushes back down to 1.3000 daily support to form a double bottom, or continue it's bearish move and break 1.3000 daily S/r.

Hoddgittoo Updated 

Strong Bullish candle on Daily time frame. I believe it will drop down to my second 4 hr SR as stated in the chart then bounce back up to 0.65600 before it contuies it's bearish move. In a perfect trading scenario, it will drop down to my first 4 hr SR, then make it's bullish move. Will wait on 4 hour bearish candle to enter trade.