EUR/JPY POTENTIAL BEARISH AB=CD PATTERN SETUP (DAILY)

5 ביוני 2018

POTENTIAL AB=CD PATTERN COULD BE SETTING UP. BE ON THE LOOK OUT AND AWAIT FURTHER PRICE ACTION TO CONSIDER SHORTING THIS PAIR. IF ENTERING, STOPS WOULD BE @ 129.370 AND TARGETS @ 125.00 AND 123.00. PRICE IS CURRENTLY PLAYING AROUND @ 128.70 WHICH IS OUR 61.8% FIB LEVEL, SO IF SELLING POWER PICKS UP BY A STRONG 4HR CANDLE CLOSING BELOW THE PREVIOUS BULL CANDLE, OR A STRONG BEARISH REVERSAL PLAYS OUT, WE CAN EXPECT DOWNSIDE MOMENTUM.