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EurUsd Daily , 4H - Critical Zone Analysis EurUsd's 4H chart shows a bearish retracement which does not look like a counter-trend since it has has multiple bullish candles. The resistance trendline has three narrow touches in a short trendline which is quite steep which can indicate a possible strong breakout. Furthermore, the white line represents high to low in the daily timeframe acting as support. Additionally, the .38 retracement acting as support is in a similar reachable level by the price action. Moreover, The previous broken resistance trendline is long, has wide touches, and is not steep, which can oblige the price action to retest that level and shoot up. Despite of all this, the price can still choose to break the daily upward trendline. I am personally waiting for a candlestick formation or catalyst to confirm where the price will go and which trendline(s) it will break. Without confirmation no set-up is good enough! Follow for consistent price action analysis. Ask questions & Give comments freely!! Bests
by PipMorningstar
2
EURJPY Bearish flagA bearish flag would show a downside move. Last time to touch the upper trendline, and in the best case scenario, it would break out of the flag. Might show some difficulty crossing the .382 level of the daily structure, and this flag could also result in being the last downside movement of the daily structure. I'd enter around 120.43 *The SL and TP might not be the same on my account, it will depend on price action* Also, check out the section below, I'll post the daily chart. Trade safe!
Short
by bbatrading