EURUSD - Short

24 dic 2019
EURUSD
Currently, EURUSD is filling a previous wedge/ ascending pattern.
It has been rejecting off the 0.5 FIB levels on the 4 Hour and the 0.236 FIB levels on the Daily.
The latest 4 hour candle has a possibility to reject off the resistance at 1.0800 if so it would prompt another entry.

Must keep in mind that it has reached the 50 percent part of the previous structure, This is a normal location for reversals and retests of the HTF
Price has also been rejecting off the support which can be seen as a shift in the trend. Possibilities of both directions.

current stance Short: Long - 70/30

25 dic 2019

Commento

Price has not been able to break the resistance or the support for this pattern, indicating a strong continuation rectangle pattern, signified by double tops or double bottoms which do not have enough momentum to break the resistance.
bear flag on the 15 minute further providing me evidence on the short according to my plan

25 dic 2019

Commento

If there are any criticisms or tips that you see or could suggest please go ahead :)