29/10/2020 #EURUSD Obviously bearish but patience is key

Yesterday EURUSD tanked quite a bit. If you have been following my tweet, you should be warned. 500 pip movement I see coming, given during last weekend.

Yesterday's very bearish candle signal more downside coming. But I sense (yes sense) that we should have a pullback 1st (price did stall yday later in the session)

Thus you can either play the pullback(go long) or wait for pullback to happen to short or of cos, if it doesn't pullback, to trade the breakout.

Price now ranging in my orange zone for past 6 hours.

If 1.1741 breaks, look to target 1.1711, 1.1677. In the event of heavy selling and 1.1637-47 trades, look for rebound to go long.

If you want to trade the pullback, 1.1773-87 will be a zone with possible reaction to go short, targeting the below levels.

1.1813 should cap high of day. Almost unlikely it will trade, as it will give a bullish engulfing candle on a bearish candle yesterday. I will definitely go short there.

If you want to trade the pullback, probably on break of 1.1755 with stops at low (1.1741). Upside is little - 30pips imo