Hi. guys I hope you are all okay! Here are my thoughts on EURUSD, price action pushed down into fresh lows of 1.1180's seeing prices break and close below the previous structure low of 1.1232's. What we have since seen is prices pullback into a key area in the market at 1.1285 - 1.1325's which would be the most likely area for sellers to re-enter the market. There is also a number of confluences, such as; 1.3000 even handle, a cluster of FIB ratios in this kill zone and RSI has also gone OB displaying that strength in buying pressure is beginning to slowdown.
Therefore, I am currently short with a 15 pip based ATR stop above the highs of 1.1325's and looking for a retest of the structure lows down at 1.1180's for target ones in anticipation for bearish trend continuation.
Therefore, I am currently short with a 15 pip based ATR stop above the highs of 1.1325's and looking for a retest of the structure lows down at 1.1180's for target ones in anticipation for bearish trend continuation.
Comment:
Also just to mention I am only short because my rules for my trade plan were fulfilled and I had the discretion to take the trade!