Hey traders,
As you know, I am very bearish biased on EURUSD.
On a daily, the price respected a major key level and also broke a rising wedge pattern to the downside.
On intraday time frames, with classic price action rules, we can easily spot a trend reversal:
- The price was trading in a bullish trend.
The uptrend was confirmed by a sequence of higher highs and higher lows.
- 1.2267 is a local structure high.
- After a retracement to a new higher low the price set a lower high (a very important bearish clue).
- Then the price violates a previous higher low level to the downside setting a new lower low.
With a sequence of two lower lows and lower high, we can confirm a bullish trend violation and initiation of a new bearish trend on 8H chart.
Now we are waiting for the completion of a retracement leg in a zone between current spot prices and the level of a previous lower high
and a consequent bearish continuation.
❤️Please, support this idea with a like and comment!❤️
⬇️Subscribe to my social networks!⬇️
코멘트:
Check my new idea on GBPAUD:
✅Join My Telegram Channel: t.me/VasilyTrading
❗️YouTube Channel www.youtube.com/c/VasilyTrader
💰Instagram: www.instagram.com/VasilyTrader/ 💰
✅Facebook: www.facebook.com/VasilyTrading/ ✅
❗️YouTube Channel www.youtube.com/c/VasilyTrader
💰Instagram: www.instagram.com/VasilyTrader/ 💰
✅Facebook: www.facebook.com/VasilyTrading/ ✅