ilmscore | Prediction Details
"this market pushes up to its resistance level what we're expecting we can see that we're having some type of breakout pattern and just an extra little nugget of knowledge most of the time in trend continuation there's a couple of different ways to take advantage of that we can either take advantage of trend continuation using breakouts or using pull backs now what we just discussed this trading opportunity from last week right here where the market pushed down is a pullback trade what we're looking at right now on the euro dollar is more so a breakout trade and let me tell you why what we have right here is a well known price action pattern called a descending triangle this market came up made a high retested this previous support level made a lower high retested the support level again and looks to be making a lower high yet again with that being the case we can see that the buyers are coming in and pushing this market up but each time they do sellers push it down before it can reach new highs and with all of that coming together with the fact that we know we're in a previous downtrend we can make an educated guess that this mark is going to continue lower more than likely in way of a breakout pattern to the downside"
By The Trading Channel (The Trading Channel) | July 3, 2018 | Pending
From video
How To Do Technical Analysis (WMP 7/2 - 7/6) 00:04:15 - 00:05:17
Interpreted Prediction
The Euro Dollar is expected to continue lower, likely through a descending triangle breakout pattern.

Prediction Details

Ticker
EURUSD

Comments

0 comments

Be the first to share your thoughts.

Like this prediction?

Join to make your opinion count.