EURUSD Impulse Up from Structure, Watch for Buys

Hi traders:

Finally we are seeing some bullish price action on the lower time frame of EURUSD.

WE can see that price has reach both the higher time frame and both lower time frame's bottoms.

A HTF double bottoms, bottom of the HTF parallel structure, bottom of the LTF expanding structure, and bottom LTF descending channel has all been reached.

This is a great indication that if price doesn't continue lower, a bullish reversal is very likely and higher probability.

Latest development shows the LTF has a clean impulse move up, breaking up the descending structure now.

To confirm the next bullish up move, price needs to develop a bullish continuation correction on the LTF and complete,
before we can set the entry order for the buy.

Thank you

Yorum:

Inverse Head and Shoulder,
Bullish Breakout followed by continuation correction

Yorum: