Potential Bearish Cypher on EURUSD

8 déc. 2015How about I just make a bearish cypher pattern appear right before your eyes? Just Kidding, the cypher pattern has been there all along. Ok so like I said in my weekly video, I'm not expecting much volatility this week especially after the kinda week we had last week and with this pair in particular. After the huge rally we had on this pair last week I still expect this pair to continue it's rebound but before that happens we might get a little consolidation where the market will probably trade in a downward channel as it seeks a support structure to rally from and we have hit our first support structure that's why we have seen a slight rally but the market has now reached the top of a descending channel (see weekly video) and we have a potential bearish cypher that will complete at that area so we'll keep an eye and see what happens, obviously I'll use my rsi again as a reason for entry so if i see my rsi flirting with overbought conditions as we approach the entry point then I get ready to short.

See my weekly video on the analysis i did on this pair.

youtube.com/watch?v=aLAyoRScdnM

tradewithme.co.uk

9 déc. 2015

Trade fermée: ordre d’arrêt atteint