Bear Flag w/Confirmed Bearish Break - EG

16 Sep

Here I have EUR/GBP on the Daily Chart!

Price gave a Bearish Break to the Ascending Channel which confirms we are seeing a Bearish Flag.
-The Volume behind the Candle that Broke the Ascending Channel signifies that it was a Strong and Valid Break

Being a Continuation Pattern, I suspect we will see Price Retest the Break of the Ascending Channel and continue Downward!
-Looking for a retest in the ( .8430 - .8435 )

Indicators:
- Price trading Below 200 EMA
- RSI Below 50
- BBTrend Printing Strong Red Bars
- Volume showing Bears accumulating

17 Sep

Trade aktif

Price has Pulled-Back to not only Retest the Break of the Ascending Channel but also the 23.6% Retracement @ .84243 suggesting the upcoming Trend Move will be Strong!

- RSI Testing the 50
- BBTrend Printing Large Red Bars

Sell Entry @ .8425
SL @ .8440

17 Sep

Trade aktif

German ZEW Economic Sentiment Results!!

3.6 Actual v. 17.1 Forecast / 19.2 Previous

A disastrous turnout! The expectation in economic improvement is fading and we will begin to see that weakness show in the EUR.

17 Sep

Trading ditutup: stop tercapai

EUR has beaten out GBP and pulled price back up and into the Ascending Channel hitting my SL!

18 Sep

Trade aktif

Price has made a Strong Bearish Break of the Ascending Channel and formed a Valid Lower Low!

-Death Cross appearance above Price with the 200 EMA + DSR

Price Pulled Back and Retested the Break @ .8420

Sell Entry @ .8420
SL @ .8440

19 Sep

Trading ditutup: target tercapai

Short Positions Closed! Looking for more opportunities if price tests the Support-Turned-Resistance Zone to continue further down

19 Sep

Trade aktif

Price came up and tested the Support-Turned-Resistance!

Sell Entry @ .8404
SL @ .8425

19 Sep

Trade aktif

With the slight uptick for Inflation, BOE decided to HOLD rates @ 5%, feeding GBP with strength making it more favorable to foreign investment!

-Tomorrow @ 1 AM CST, GBP will release Retail Sales!