Observing profit taking on the currency pair.
1-2-3 Pattern Potentially Forming?
Watching an area that seems to be a key level of support on multiple time frames. If divergence appears, then that could mean that bears are starting to take profit. If so, that could lead to an opportunity to go long when I see a reversal pattern in this support zone of monthly and weekly pivot points.
About The Post
About The Forex Analyst
Wayne McDonell has has been trading forex full time since 2004. He is the Chief Market Strategist for TradersWay.com He is the author of "Strategic and Tactical Forex Trading" and his foreign currency analysis appeared on Bloomberg TV, Wall Street Journal and many others. He is also the founder of FX BOOTCAMP.