-We have a bearish flag and and a bearish butterfly forming on the daily time frame.
-At the D point of the bearish butterfly, we hit the 2.0 fib level, and got an instant retracement, which let to form a shooting star.
-On the 15 minute time frame we have an ascending channel that is current forming a bearish pennant. If this pennant breaks to the downside, it should break the ascending channels bottom trend-line, and fall down to 1.328500 and face some resistance. If this resistance is broken, it should head down to the 1.3100 level where it will face more resistance.
I am looking forward to this Sunday! Happy trading!
-At the D point of the bearish butterfly, we hit the 2.0 fib level, and got an instant retracement, which let to form a shooting star.
-On the 15 minute time frame we have an ascending channel that is current forming a bearish pennant. If this pennant breaks to the downside, it should break the ascending channels bottom trend-line, and fall down to 1.328500 and face some resistance. If this resistance is broken, it should head down to the 1.3100 level where it will face more resistance.
I am looking forward to this Sunday! Happy trading!