Medium-term bullish cypher on EUR/USD
تم تحديثه
My confidence is increased due to the correlation with DXY and my bearishness on it(it's forming a right shoulder inside of a right shoulder inside of a right shoulder at the moment).
Other than the resistance between points A and C, I'd be looking at the .5 fib extension(green) and the red rectangles as potential targets.
Other than the resistance between points A and C, I'd be looking at the .5 fib extension(green) and the red rectangles as potential targets.
ملاحظة
I know it's pretty messy but here's a short-term shot of what I'm seeing in DXY. Note the confluence with the targets of the little triangle pattern and the shortest-term head and shoulders at ~94.93.This takes place within a right shoulder on the weekly chart...
ملاحظة
Extremely short-term bullish divergence on 5 min chart(and barely starting to show on 15 min). DXY is making it more obvious that 96 is likely the top for a while...ملاحظة
Bitcoin will most likely benefit A LOT more from the impending freefall of DXY than EUR/USD will though...ملاحظة
So far so good, reached point B already, validating to me that the pattern has significance, and now it's dipped back down and tested support... exaggerated bullish divergence on the 15 min timeframe.ملاحظة
the pattern is now officially invalidated but at this moment I'm still bearish AF on DXY so I expect it to recover back above the PRZ in the extremely near future, at which point I expect the reversal points in the pattern and the related fibonacci extension to have an effect(support and resistance) on price action on the way up, at least.ملاحظة
immediately after my last update I realized there is a bullish shark pattern now at play instead. just had to move things around a little bit to adjust targets based on the new PRZ.ملاحظة
It will be interesting see price action react to the lines from both charts :)Here's the interactive version of the bullish shark
ملاحظة
I'm no longer bullish even though DXY looks bearish. Bearish div on 30 min chart. Bitcoin's turn!
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.