2 bat patterns on EURAUD together with a current downtrend of lower highs lower lows might indicate that there is some further downside to this pair. We might be looking at a reversal around the completion of the red bat pattern (structure present) or even a little deeper to complete the blue one ...
Are these patterns going to complete ? Nobody knows ... but I'll certainly keep an eye on it
Комментарии
IvanLabrie
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This one might work well. Strong support to the left.
Nico.Muselle
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Might ... depends on what Draghi will announce tomorrow. :)
Nico.Muselle
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* Update : pattern has complete now. Be careful if you want to trade it though as there is some ECB announcement tomorrow. Look for triple confirmation for entry as the overall trend of EUR is very bearish and they do want to keep it that way.
rumuscat
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Hi nico not sure what you mean by triple confirmation
Nico.Muselle
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I mean that you should have a clear indication that the trend is really reversing.
CryptoPAMM
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I think the probability for the pattern completion is very high, EUR is struggling across all majors, with new lows and no clear bottom hit.
Nico.Muselle
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As long as I see those LH-LLs coming in, I'm convinced there is a good chance this pattern (or at least the top one) will complete. But as always ... only time will tell :)
Pokemon_King
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Nice label for the LL and LH. and amazing pattern. Looks like you have the crystal ball here buddy.