EURUSD: Running Channel
Context
It has occurred to me over the past few weeks that EURUSD has always been in a position to buy, probably due to external influences and invalid correlation. My market sentiment has since changed after redrawing the structures of this pair.
This is the weekly chart of EURUSD as of February 9.
General Consensus
Wait. The impulse is still ongoing, and it would not be a good move to enter the market right now.
Steps To Take
It has occurred to me over the past few weeks that EURUSD has always been in a position to buy, probably due to external influences and invalid correlation. My market sentiment has since changed after redrawing the structures of this pair.
This is the weekly chart of EURUSD as of February 9.
General Consensus
Wait. The impulse is still ongoing, and it would not be a good move to enter the market right now.
Steps To Take
- Wait for the impulse wave to end
- Look out for a correction phase or bear flag
- Wait for an entry
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