EURUSD, level 3 in week 2. Short for week 3
EURUSD went ahead to create a bullish level 3 in week 2, which I did not expect it. In week 1, the analysis was for EURUSD to drop after a reversal formation was formed at the bullish level 2 zone. Looking back at the analysis, the price pattern convinced me that level 2 will be the one reversing rather than level 3. That's why I did not change the marking of the zone, so to reflect the oversight and to remind me of what happened before.
I avoided trading EURUSD for week 2, as I cannot gain good clarity on the movement, even though the analysis expects EURUSD to drop after level 2. However, with the level 3 reversal pattern being formed on Friday, we can be sure that the price would be moving through three levels of bearish movement (not 100%). So I will be looking to enter short in EURUSD. Hopefully to see a 10% increase in my week 3's profit. The reversal price pattern is strong in the highlighted box with "M" because the second high is lower than the first hight, signaling a strong bearish power. So my take is to stay with the bearish trend, till other combination/patterns emerge to suggest otherwise.
Stay flexible and open-minded, and I hope you continue to make good gains in week 3!
If you have any thoughts on EURUSD's movement for the coming weeks, please share them below, I look forward to learning and staying profitable together. Please help me like this analysis, and follow me for my weekly updates!
I avoided trading EURUSD for week 2, as I cannot gain good clarity on the movement, even though the analysis expects EURUSD to drop after level 2. However, with the level 3 reversal pattern being formed on Friday, we can be sure that the price would be moving through three levels of bearish movement (not 100%). So I will be looking to enter short in EURUSD. Hopefully to see a 10% increase in my week 3's profit. The reversal price pattern is strong in the highlighted box with "M" because the second high is lower than the first hight, signaling a strong bearish power. So my take is to stay with the bearish trend, till other combination/patterns emerge to suggest otherwise.
Stay flexible and open-minded, and I hope you continue to make good gains in week 3!
If you have any thoughts on EURUSD's movement for the coming weeks, please share them below, I look forward to learning and staying profitable together. Please help me like this analysis, and follow me for my weekly updates!
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