From the spotted price of 0.95806 last Sept 21, the pair went up to 236 pips to closed at 0.98169. Might pullback when it reaches the 618 fibo at 0.98672.
PRICE ACTION IS HEADING FOR THE NECKLINE OF THE HEAD AND SHOULDER. ALSO, THERE IS A BULLISH SHARK FORMING JUST BELOW THE NECKLINE.
Closed at 1.30290 Has broken the BAMM area of the BULLISH BAT pattern and heading downward to PRZ at 1.28438 - 1.28076 level
Just a chart
2 scenarios for this, 1st a break on the top channel will be forming a bearish shark pattern. Breaking down of the trough will be forming a three dives pattern. Based on the DNA of this pair there will be another retest on the top channel before it finally breaks the trough. Since bears are in control as of the moment and the price is sitting on support level, I...
Price has already sailed even if it does not set footing on 886 fibo for the completion of BULLISH SHARK. Price is already in the cloud and above tenkan-kijun sen. The chikou span signal a long entry.
a breakout of 1.17913 level is a confirmation of CUP AND HANDLE on a 30M chart.
The pair has already dropped two-thirds (2/3) of its ascent. Watch for the capitulation pattern before entering a long trade. For educational purposes only
Retesting the flip zone area @1.17466. Possible revisit the 1.19943 level it set last May 14, 2018.
Bullish Divergence Once MA50 and upper trendline has been broken, it is possible to re-test the resistance on 0.74400 - 0.74500 level. Failure to break the MA50 and the upper trendline of the channel, we will see this retrace to the trough of the channel.
To stay bullish, pullback must hold at MA100 To continue its bullish move, must break the upper channel line. Must break the 156.664 level for reversal of trend. For educational purposes only
Wait for the completion of the bullish shark pattern for the set-up and triggers a long trade if there is an SOR on the PRZ. For educational purposes only.