IF we look at the preceding 2 months for this pair on the Weekly Chart
1. Evening Star - July starts with a bullish candle , followed by a Shooting Star and then a bearish candle. Together these 3 candles form the Evening Star , a bearish reversal pattern. The rest of the month follows through with successive extended range bearish candles.
2. Morning Star - August starts with a large Hammer , testing the 3rd Standard Deviation and cementing the lowest low. Next a bullish candle appears. We now have a formation of the Morning Star, a bullish reversal pattern. The 3rd week in August is closer to a Deviant Dragonfly, also a bullish sign. August ends with a bullish candlestick.
On the daily chart we can see the consolidation of later August. Price is respecting 192, and there is compression evident with smaller real bodies.
What's next ?
Looking for a potential Flat Channel Breakout next week. The target would be a confluence of
1. Supply Zone - 197.50
2. Bollinger Channel Midpoint - 197.00
1. Evening Star - July starts with a bullish candle , followed by a Shooting Star and then a bearish candle. Together these 3 candles form the Evening Star , a bearish reversal pattern. The rest of the month follows through with successive extended range bearish candles.
2. Morning Star - August starts with a large Hammer , testing the 3rd Standard Deviation and cementing the lowest low. Next a bullish candle appears. We now have a formation of the Morning Star, a bullish reversal pattern. The 3rd week in August is closer to a Deviant Dragonfly, also a bullish sign. August ends with a bullish candlestick.
On the daily chart we can see the consolidation of later August. Price is respecting 192, and there is compression evident with smaller real bodies.
What's next ?
Looking for a potential Flat Channel Breakout next week. The target would be a confluence of
1. Supply Zone - 197.50
2. Bollinger Channel Midpoint - 197.00
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.