The RSI is also confirming a move down. This idea was first brought to me by Lewis Glasgow.
This one is heating up and soon ready for a short entry. The Shark pattern is almost complete and the RS is also confirming an overbought position. Shark pattern B: .331 no requierment C: 1.419 must be between 1.13-1.618 D: 2.185 must be between 1.618-2.24 final x to d - ...
It will affect all these pairs - NU/USD EUR/USD GBP/USD USD/JPY AU/USD The economy in the USA is doing great. lowest unemployment numbers in 17 years. Fed is slowly increasing rates. Even if inflation isnt moving up yet, Fed is still raising rates to have some ammunition for the next recession. Keep in mind inflation is a lagging...
Setting up nice for a nice short on EUR/USD.
The independent investigation and the over reaction in the markets yesterday, will result in a risk off trade now. This Bearish bat also gives you technical reasons to make the same trade. Good Luck!
Potential Bearish Gartly Pattern .0618 0.692 1.393 0.786 this is a daily chart, I see more short term drop, with RSI as a secondary indicator. If it continues to the d point, would be bigger sell point, taking it all the way down to .382 which is also where the support line lines up.