rougetrader66

rougetrader66

bullish diamond pattern, braking out now

rougetrader66

this market may look very bullish right now on the lower timeframes, and that is true, but we have not yet violated the down move from the doubble top, the right leg is still in a healty down trend, we are now closing in on heavy resistance and I believe there is a possibility the market could turn around very quickly, why do I think this you may wonder? first,...

rougetrader66

I think a triangle is forming, recommend no trade until we brake out from it

rougetrader66

3! 1.618 levels on the chart, nice cluster there. definitely a very important level for the future

rougetrader66

this is what I suggest for a bottom

rougetrader66

Price bounced a bit at the neckline, but should be coming down now, suggest selling right now and take of about half at the neckline in case it bounce again. another brake of the neckline should trigger a crash in EURUSD with a very juicy target

rougetrader66

updated short

rougetrader66

this is a clear short to me. who is with me? small risk and mega reward

rougetrader66

Pullback

rougetrader66

Big cluster sell zone, supply zone, blue rectangle, expect a lot of volatility in there. I based 1.12000 about the top of the zone because it has at least 3 touches of a level. a lot of sellers will be in there. it could potentially reverse there, but as always in this business, nothing is certain and everything can happen.

rougetrader66

fibs

rougetrader66

sell at the top like and buy at the lower line, with a tight stop

rougetrader66

huge momentum

rougetrader66

short

rougetrader66

a gigantic bearflag on the weekly chart can possible be the trade of your life.

rougetrader66

target area

rougetrader66

Unfortunately I missed to enter at the begining of this move, but it looks like we have a lot more to the downside so it should be safe to enter, as you can see price have broken out from the small wedge, the price target is below and suggest that we also would brake the larger pattern, if we do, it is a total reversal on EU and the main trend would be resuming....

rougetrader66

The Greece deal is still not over even if the outlook now is better for the EU than this morning, price is still within the rising wedge formation wich is bearish, I recommend sit on your hands until you see a brakeout from the wedge. as long as we are inside it, I will remain neutral, a brakout will confirm direction.