The Euro Dollar,possile 123/DT?

Good morning Dynamic Traders,

Yesterdays trade on the JPY never materialised for me although I was being slightly aggressive using ESLT, as it produced a doji candle for the day and today has risen about 75 points at the time of writing this.

However the trend is still down and so I shall keep an eye on this should confluences come about again for the trade.

Todays chart is of the EURUSD, and is also looking like a possible short trade is developing in accordance with the 123/DT formation.

As can be seen from the chart below there is divergence and a fibonacci reversal figure is at hand.

Watch out for your trigger, possibly coming from a lower timeframe and enter accordingly.

As always please do your own analysis before taking any trades.

Charts courtesy of AdvancedGet.

Have fun trading.

Clayton Farnworth.