captainquenta

EURUSD possible short bias based on a break of Gann & Fib levels

OANDA:EURUSD   歐元 / 美元
FX:EURUSD            
I had placed a Gann Fan at the high on 8/2/17 and let it remain there while prices continue to close lower and trade a range for most of the month. It has been my experience that the Gann fans you leave alone for a time show how much their lines can be respected.

While price achieved a major high this week, it was firmly rejected, this can be seen very clearly on the weekly chart as well. The close of Friday showed some renewed pressure by the bulls to push higher, but bears decidedly pushed it lower and lower.

The key area I am looking at for a short is right near the daily close of Friday (9/1). We can see that it is at a key level of the down trend 8/1 Gann fan line AND it is right above the .236 Fibonacci level. If price does break and hold below those levels, I would expect it to range slightly on top of the up trend 1/1 Gan fan line. If we break below that, I would expect the pair to respect the downtrend line and confirm a test higher as a failed attempt, for now.

snapshot

On my five tick Renko brick charts, I notice we have tested and failed some key support areas in this pitchfork channel. A break down out and down to test the 1.181 area will be key. We should get furhter confirmation of a change in trend and some bearish bias if that area breaks and holds.
ZH 繁體中文
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
首頁 股票篩選器 外匯信號搜索器 加密貨幣信號搜索器 全球財經日曆 如何運作 圖表功能 網站規則 版主 網站 & 經紀商解決方案 小工具 圖表庫 功能請求 部落格 & 新聞 常見問題 幫助 & 維基 推特
個人檔案 個人檔案設定 帳戶和帳單 我的事件處理號碼 聯絡客服 發表的想法 粉絲 正在追蹤 私人訊息 在線聊天 登出