Dear people,
It's time to pull the trigger and short the $EURUSD .
I'm saying this for the following 3 reasons.
1. The pink trendline and the yellow line form a hidden bearish divergence. This is the case when the swing high is lower than the previous one (price) but the indicator shows the opposite. The stochastics just made the cross which means it's time for action.
2. Price obeys the pink trendline. It touched it but didn't break it.
3. The candle from 2 august is a bearish engulfing candle.
These three signs together gives very good odds that we actually go lower and see 1.00000 again and probably much lower.
Greetz and happy trading!
Michael
It's time to pull the trigger and short the $EURUSD .
I'm saying this for the following 3 reasons.
1. The pink trendline and the yellow line form a hidden bearish divergence. This is the case when the swing high is lower than the previous one (price) but the indicator shows the opposite. The stochastics just made the cross which means it's time for action.
2. Price obeys the pink trendline. It touched it but didn't break it.
3. The candle from 2 august is a bearish engulfing candle.
These three signs together gives very good odds that we actually go lower and see 1.00000 again and probably much lower.
Greetz and happy trading!
Michael