Looking for uptrend continuation after breakout of inside bar.
False breakout after inside bar set up. Putting a sell order if Price is able to break 1.232
Raw price action analysis
As expected, EURUSD could not break key long-term resistance of 1,25.
adding small short position here after yesterday momemtum shift.
Although not much momentum downwards, It seems the start of a retracement.
RSI divergence Price reversed at strong support Down trend was clean and respected 20 EMA until momemtum shift
Price has broke trend line of retracement, and retested it successfully.
Price seems to have bounced down from the previous flip zone.
LAst 4h candle has just closed below important level, so I nice sell-off of this currency may happen now.
Price has broken previous flip zone after some strong rejections las week (NFP-Driven price action) First target is the next filp zone, but there is a chance it goes further down.
After successful retest of both neckline and 20 SMA.
RSI divergence and strong momentum shift on the Monday opening. Convergence with Supply Area and Previous Support RRR 1:2 SL below the breakout candle of 20SMA
This could trigger a larger reversal so In case price reaches target I will close half position and move SL to BE.
If Current Candle respects the 20SMA (Retest) and bounces upwards. Enter Long position. CONFLUENCE FACTORS: - Momentum shift - Divergence - R.R.R. 1:2 - Price reached a Massive Support Area
Confluence Factors: -Round pattern and engulfing bar at major resistance -Trend line breakout -RSI Divergence