This is just a small update before I go to sleep and wake up early morning on tomorrow. I have to attend Web 2.0 Class conducted by ICT Incubator Kelantan for four days. Just to share with my fellow traders (maybe you 🙂 ) about my analysis for EURUSD.
Below is the chart for EURUSD, at 1 hour timeframe. As you can see that analysis is only based on trendline. No fibonacci, no divergence. Haha! If you place the fibonacci, the first red block is 50% fibo, and lower red block 38% fibo.
Am I expect the price will break the lower red trendline? How about you?
I don’t think the price will break the lower red trendline. If it break that lower red trendline, then it will bring further downtrend. Fine, just place a default Awesome Oscillator, then you will see a bullish divergence at one hour timeframe. Either it is a bounce when the price hit that red trendline, or bullish trend is not yet ended. Wait for tomorrow, the fed will release the inflation data. Hope you have a green trade.