CHART PATTERN: BEARISH FIBONACCI RETRACEMENT EXPANSION CLUSTER ON EURUSD

Price has not done much this week as par my preferred setups but we may be unto something here.

Fibonacci retracement expansion cluster (region covered by green lines) was spotted on 4-hour time frame and the trend line which hovers above it is the sub-pattern. I intend to sell immediately price bounces from the trend line, set target at a new low (below the lower trend line), and stop loss above the most recent swing.

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About Moshow

Oseni Moshood ( Moshow) is a physicist, a blogger and a spot trader with years of experience. He trades only price actions partly because he thinks Economics is boring; or, probably because he failed Economics; and he loves fine artistic works.