While we are all waiting for tomorrow’s event we couldn’t help but notice a bearish wedge formed in the EURUSD on the 4hr. chart. This is a reversal pattern and (should it do what it is supposed to) would indicate a turn around on this pair. There is also a bit of divergence forming on the RSI on the same time frame (albeit slight). Just thought we would point it out.
Should we, for the 200 billion possible reasons that exist, see a drop in the EURUSD we may take a sell on a break of the white line with a T1 to the lower red trend line. At which point we would move our s/l to b/e and would let the pair run.
Unless it goes up then we would buy. Definitly buy!...Unless it goes down...then we would sell. Or maybe....
The first image is a screen shot of a EURUSD chart. The second screen shot is my partner in colorado practicing finding wedge patterns in blocks of wood.
Just thought we would share.
Should we, for the 200 billion possible reasons that exist, see a drop in the EURUSD we may take a sell on a break of the white line with a T1 to the lower red trend line. At which point we would move our s/l to b/e and would let the pair run.
Unless it goes up then we would buy. Definitly buy!...Unless it goes down...then we would sell. Or maybe....
The first image is a screen shot of a EURUSD chart. The second screen shot is my partner in colorado practicing finding wedge patterns in blocks of wood.
Just thought we would share.
Attached Image (click to enlarge)
Attached Image
