Top and Bottom Analysis on EURUSD by ThinkingAntsOk
Use this as a guide to develop your own setup, and spot the most relevant technical zones on the chart
Main items we see on the 4hs chart:
a)Price made a Beartrap on the lower trendline of the weekly wedge pattern
b)Currently, we can see a possible Flag Pattern on formation
c)If the Flag pattern evolves as expected we should see a bullish movement towards the Support / Resistance Zone
d)We guess that a lot of Long entries will be above that level, so we will expect for a fake-out + corrective formation
e)If the corrective formation is made in the mentioned zone we will develop long setups on a new post
Weekly Chart:
Daily Chart:
Main items we see on the 4hs chart:
a)Price made a Beartrap on the lower trendline of the weekly wedge pattern
b)Currently, we can see a possible Flag Pattern on formation
c)If the Flag pattern evolves as expected we should see a bullish movement towards the Support / Resistance Zone
d)We guess that a lot of Long entries will be above that level, so we will expect for a fake-out + corrective formation
e)If the corrective formation is made in the mentioned zone we will develop long setups on a new post
Weekly Chart:
Daily Chart: