Adongdong

Adongdong Updated 

Trend support level / Structural Support Level now being tested. This will decide whether this area will be structural support for current up trend in 4 H. If you're unsure if this level will work as support, and possibly have S/L then you could time your entry at 1.26 - Harmonic Confluence.

09:54

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Expecting weak dollar for next several weeks. Thank you for watching the video!

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Structural Support expected at this level - perhaps along with Brexit news I would suspect EUR will start gaining edge over GBP over next few weeks. Also harmonic confluence around this level.

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Major resistance level ahead of crude oil. Now we can trade counter-trend and short here. If you wanna be on the safe side, you could wait for weakening candle in that resistance zone.

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Note in previous analysis I have mentioned that there's confluence in this area. With China-U.S trade talk ahead, this area seems to be a feasible entry for those who look for long in EUR trades. Good luck!

08:07

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In this video, I explained why EUR/USD will drive further up and the bottom area that was formed will act as significant pivot short term. Thank you for taking your time to watch the video.

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1. Megaphone pattern is apparent on current oil movement. We DO NOT want to take immediate short play as oil has been moving within such range, and most likely test upper area of the megaphone once again. 2. Daily Candle closed super strong. Just because chart says this area "could be" a resistance, we are not seeing slow down in momentum just yet. 3. We need...

Adongdong Updated 

EUR/USD finally getting some noticeable reaction from it's structural support. Therefore, you can set target prices as shown in chart. Take a look at the volume today coming off tarnished numbers from US data. We are also witnessing price coming swiftly into value zone. Take caution taking the trade, as we are in overall down trend.

Adongdong Updated 

Structural retest seems inevitable - Broken initial major support. - Unless we see major reaction seen around this area (whether from fundamentals) it should head lower from technical stand point of view. - The question is if the market will be able to hold it's structural support. We are waiting for signal.

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EUR recently developed upward momentum. We can see clearly on H4 that the price is nearing it's major support. Here are two scenarios for me: (1) Price bounce hard at this level and and consolidate for a while (2) Price gets rejected from current level and drops further 100-200 pips to retest structural support. Good luck!

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My analysis is going to be simply on pure price action of EUR/USD . We have seen massive sell off after FOMC announced possible increased rate target for the year 2019. We look at hourly time frame and we find huge supply along the upper red line. Therefore we enter trade at this level.

Adongdong Updated 

Upon breaking blue line right below the current candle, we can expect the price to reach the target levels shown on the chart. SL will be the dotted lines. Gold 0.05% price has eventually come to a stop and we might see short retracement from here.

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Euro Broke initial steep down curve Therefore we can expect 1) Sideway 2) Lower Volatility 3) Pattern trading becomes a lot more accurate ----- Harmonic Cypher As shown on chart.

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(1) Eliott Wave Count (2) Megaphone pattern around major resistance (3) Breaking the consolidation would mean further price drop due

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- Euro Numbers are expected to be weak; - There's just no enough long-term buyer interest to drive the price up - creating lower highs - Market isn't allowing EUR to enjoy multiple green candles at any time frames. Action to take: Short Euro till 1.3 - 1.28 If you're aggressive, you can enter as soon as bearish engulfing is witnessed on hourly...

Adongdong Updated 

Some of you might say, Hey, at least we are now at the top! Dollar shall fall! Well, how many times have you seen people calling Dollar topped? By fibs, we've seen 23.6%, 38.2%, 50%, 61.8%, 78.6%, 88.6% have been all supposedly "the top" for dollars. The truth is that while all these levels could have been candidates for the ceiling of the dollars, but...

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- We see this beautiful double top with 4-hour fractals. - What this would suggest is that price has topped at this price level, and major support will once more be tested. Hence, we take our short to initial structure as shown on chart, and then to double top target price.

Adongdong Updated 

- Watch Fractal formed at the bottom in 4 hours. This contour initially formed major support at current price level. - The key is not to break this bottom - Finishing 4 hour below this fractal candles would mean price has not found support yet. - Remember, this is counter trend trade, meaning risk is a lot more significant than trend following trades.