I keep seeing bearishness.. Starting to think I am biased. Anyway, here is another bearish outlook for the EURUSD. This one is the most out there analysis because the pattern I have outlined here is a reversal pattern which is meant to form at market tops or market bottoms and yet here I am plotting it on a monthly chart that is already confirming the same trend the pattern is meant to show to be being reversing...(I wonder if that made sense) LOOOL!
Anyway have a look..
So far price has met the first four requirements to complete this pattern and is halfway through the formation of the final leg which will complete at E which is also a key S&R level. Point E is a PRZ (Potential Reversal Zone). If price reaches this point a SELL trade maybe placed with targets at the previous major S&R levels and the final target at 0.8256. This trade is an extremely long term trade which could potential end well within 2021 or 2022. Since this is a long term analysis, there is opportunity to ride the final leg upwards to point E. This BUY trade may be entered at 1.2150 with the first target at 1.2600 (or whenever price hits the upper trend line. The trade may then be continued up to the 1.3695 and 1.400 price range. Just remember, that market does what it wants!!
critic, refute, agree!
Mentors not Trolls!
Anyway have a look..
So far price has met the first four requirements to complete this pattern and is halfway through the formation of the final leg which will complete at E which is also a key S&R level. Point E is a PRZ (Potential Reversal Zone). If price reaches this point a SELL trade maybe placed with targets at the previous major S&R levels and the final target at 0.8256. This trade is an extremely long term trade which could potential end well within 2021 or 2022. Since this is a long term analysis, there is opportunity to ride the final leg upwards to point E. This BUY trade may be entered at 1.2150 with the first target at 1.2600 (or whenever price hits the upper trend line. The trade may then be continued up to the 1.3695 and 1.400 price range. Just remember, that market does what it wants!!
critic, refute, agree!
Mentors not Trolls!