EURUSD - Short

21 de mar. de 2019

This one looks like the business so far. I mostly trade technicals (i'm a numbers man, numbers don't lie and for the more spiritual ones like me, everything is energy and energy has its sequences and cycles) why i love Fibonacci. So...... EURUSD, on the high time frames (Daily) clear to see we have moved into somewhat of consolidation. And for me trading harmonics in consolidation is fine as the range price is in tends to coincide with the entry point of a given harmonic. We have two potential harmonics, the cypher, which has just completed and the Shark pattern should the cypher fail. I'm leaning more towards the shark pattern playing out because i'm not seeing enough confluences atm for the cypher. i.e. MACD volume is strong and there is not divergence here or in the RSI. RSI hasn't crossed over into overbought yet so the bulls are still set to push price a little higher potentially. Now my other two indicators are based on money flow, these are showing that over all the BEARS have the overall upper hand but this just gives me more confirmation that price will shorten its just a matter of a prize zone being hit first. For me i'd expect price to reach 1.14745 prize zone (give or take 10-20 pips) as looking back this structure has had significant movements off of it. Should price break through here and push the pair into and even greater overbought (rsi) condition, i'd look for entry between 1.1516 and 1.1558 (two significant price areas and major structure levels. Confluence would come by way of money flow showing divergence and fibonnaci bollinger price crossing 1 and MACD divergence. RSI at this point would be way overbought. May have to wait until next week for this to start to move in the direction we want but hopefully price gives us a reason to go short sooner.