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  • Vasily Trader

SPOTTING EARLY TREND REVERSAL | EURUSD



Hey traders,


As you know, I am very bearish biased on EURUSD .

On a daily, the price respected a major key level and also broke a rising wedge pattern to the downside.


On intraday time frames, with classic price action rules, we can easily spot a trend reversal:

The price was trading in a bullish trend.

The uptrend was confirmed by a sequence of higher highs and higher lows.

1.2267 is a local structure high.

After a retracement to a new higher low the price set a lower high (a very important bearish clue).

Then the price violates a previous higher low level to the downside setting a new lower low.


With a sequence of two lower lows and lower high, we can confirm a bullish trend violation and initiation of a new bearish trend on 8H chart.


Now we are waiting for the completion of a retracement leg in a zone between current spot prices and the level of a previous lower high

and a consequent bearish continuation.


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