EURUSD-Weekly Market Analysis-Jan22,Wk4

If you remember what we spoke about last week you would have seen how the market fell and was held by the trendline which is part of the Ascending Triangle.

You would also notice how the candle respects the trendline, bounce off of it and refused to break and close below the trendline.

If you had shorted when the market break and close below the support you would earn approximately 97pips, that is 970USD per lot traded and if you would have long from the trendline, at this moment you would have earned approximately 42pip which is 420USD per lot traded.(check out the link within the TradingView post)

What has passed, has passed. This week I'm waiting for a Bearish Shark shorting opportunity or a retest of the trendline, perhaps a formation of Bullish Gartley or a Bullish Bat Pattern setup for a buying opportunity in this trend trading setup.