As the Us Dollar starts to gain traction from the fed rate hikes until the end of this year, we can speculate that the stock market will be hit hard down to 1804 and maybe lower if the market continues a strong correction and the fed continues to raise interest rates.
This is a text-book example of channel flow, the pound has started a bullish reversal and is slowly gaining momentum. If you want to get into the trade, either use SMALL positions and INCREMENT along the way because this is going to be a Long Ride and PATIENCE is the key. Subscribe or Like if you made a profit :)
Daily Trend shows a Double Bottom confirmed by Fibonacci to .618 line, profitable longs for the near short-term in the euro but always BE CAUTIOUS. Feel free to comment or suggestions.
USDOLLAR looks like its approaching a bearish ABCD pattern but nothing is clear until we reach the uncertain line (Supply zone) where we can find a breakout in either direction.
This is just a speculation on the longer time scale for the euro in the coming weeks. Currently shorting and will hold for another week.
Nothing special just another fib retracement. Grab and run that's how i roll. Like or comment if you want more.
PLEASE use small positions as these places carry uncertainty and high volatility AND you can always add more to a profiting trade. If you profited from this idea feel free to like or subscribe.
This is a channel formation, hopefully this will continue in the long term so this could be a good trade in the long run. Be careful with occasional volatility.
Markets are looking for a better support line hence the gap, so i would short until the target price above keeping positions small as possible!
Just a quick position pure supply demand, take profit at .50 or wait till .764