Here I'll try to summarize the move in EURUSD 4 hours chart registered in last three days.
| Here is the beginning - Monday 18th beginning of the European session. After the strong rally on Friday moving the price far away form the Alligator's lines and creating an acute angle we have slowing Acceleration resulting in Bearish Divergent Bar formation. | |
| Two hours after the US session open. Bearish Divergent Bar was taken easily by the steam accumulated in the Friday's rally. Angle is closing; Momentum is down; Acceleration continues slowing. A new Bearish Divergent Bar has been formed. | |
| Next day (19th) beginning of the European session. Again Bearish Divergent Bar was taken; move continues up but losing steam. There is almost no Acceleration. Attempt to break up 1.3430 resistance failed creating next Bearish Divergent Bar which is an outer bar in the same time | |
| Same day - just before US session open. Outer bar is growing; Bullish Fractal is on the way. Momentum passes to negative territory (down) Price is hesitating between 61.8% down Fibonacci and 38.2% retrace Fibonacci. If there are still open long positions - they must be closed here because we have to bars closing below the pink line. If there are short open position - wait to continue down or close them at 1.3440 break up. Alligator is going to close so be careful - prepare to exit all trades. | |
| Today (20th) before European session open. Double top formation and next consecutive Bearish Divergent Bar formation. Price failed to take Bullish fractal. Acceleration and Momentum are up after market takes breath. Looking for today development |
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