EURUSD 4H Retest on the Big triangle from Daily
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EURUSD 4H
On this 4H chart we look closer in the current situation. There are a few things to take in consideration:
The market structure on EURUSD has changed from Bearish to Bullish with the latest up swing. This transition is indicated from the blue lines and the orange lines
The price is forming a double divergence on the MACD and the RSI. This suggests that the price can correct to the previous MH point of the bullish structure which aligns with the resistance of the triangle (now a support for the price)
Once the price potentially corrects to that level, it will be important to monitor close in order to determine if this is a retest or a false breakout and get an idea how to trade it
On this 4H chart we look closer in the current situation. There are a few things to take in consideration:
The market structure on EURUSD has changed from Bearish to Bullish with the latest up swing. This transition is indicated from the blue lines and the orange lines
The price is forming a double divergence on the MACD and the RSI. This suggests that the price can correct to the previous MH point of the bullish structure which aligns with the resistance of the triangle (now a support for the price)
Once the price potentially corrects to that level, it will be important to monitor close in order to determine if this is a retest or a false breakout and get an idea how to trade it
Trade chiuso: obiettivo raggiunto
Exactly as expected :)
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