EURUSD Forms Rising Wedge + Evening Star_ Bearish Setup

5月26日

As I expected in the previous idea, the EURUSD(EURUSD) started to rise after breaking the upper line of the descending channel and hit the Long Position target with Risk-To-Reward: 1.46.

The EURUSD is trading near the Resistance zone($1.149-$1.142).

From a Classic Technical perspective, EURUSD appears to be completing a Rising Wedge Reversal Pattern. Also, a good sign for a EURUSD reversal is the formation of an Evening Star Candlestick Pattern near the upper line of the rising wedge pattern.

Also, we can see the Regular Divergence(RD-) between Consecutive Peaks.

In terms of Elliott Wave theory, I think the EURUSD corrective waves are NOT over yet, and it seems that EURUSD has completed the main wave X inside the rising wedge pattern.

I expect EURUSD to decline to at least $1.126 AFTER breaking the lower line of the wedge pattern.

Note: If EURUSD touches $1.14903[Stop Loss(SL)], we can expect more pump.

Please respect each other's ideas and express them politely if you agree or disagree.

Euro/U.S. Dollar Analyze (EURUSD), 4-hour time frame.

Be sure to follow the updated ideas.

Do not forget to put a Stop loss for your positions (For every position you want to open).

Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post.

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5月27日

交易進行

Trade was activated

6月2日

交易結束：目標達成

Target Done