EURUSD Wave Analysis
2020-01-21 04:04:21
EURUSD is moving in a bigger wedge formation and reached lower rising support.
Price dropped in 5 Waves from the top of the structure.
And the fifth wave was also made out of 5 waves.
We have a nice RSI divergence between wave 3 & wave 5 on the 1H chart.
Price is forming buy signals:
Pinbar candlestick on 1H
Morning star pattern on 4H
Double Bar pattern on 8H
Position was taken on 4H on the break of the outside bar (forming morning star pattern).