EU WEEKEND CBD - Trump Always Gets What he Wants
CBD (Chart Break Down)
A lot of textbook moves throughout this week. If you missed out this week, don't worry. Next week looks promising.
First the Fundamentals
We all know Trump is pushing for a weaker dollar. He has spoken openly about his intentions with the dollar before he was elected. Which is why we had sharp bullish movement Thursday & Friday. All due to Trump insulting Euro and China through his Twitter, and the much-disliked meeting between him and Putin. His efforts in weakening the dollar are working enough to take over 3 days worth of sellers momentum.
Now the Technicals
Daily Chart shows morning star formation on a psychological price zone. We have a lot of buyer exhaustion on Weekly charts and on the Monthly. We're showing a strong bullish trend on 1h, and 4h Timeframes with supporting structure. Expecting a retrace at market open to maybe 38.2, and bounce off of my weekly line. Giving the strong bullish momentum needed to engulf early on in the new week. Potentially completing a monthly morning star pattern before the month is over.
We're heading into August bullish, heading for potential PRZ points on the monthly now that we have finally established a point B (At 100% PRZ and psychological prize zone.
For More
Check out InvestorsToken for more on Foreign Markets.
Psychology: How Much Should I Risk?
Disclaimer:
Please bare in mind that all views and opinions by me carry no responsibilities if any losses are realized on your behalf. Please always trade smart and with caution.
A lot of textbook moves throughout this week. If you missed out this week, don't worry. Next week looks promising.
First the Fundamentals
We all know Trump is pushing for a weaker dollar. He has spoken openly about his intentions with the dollar before he was elected. Which is why we had sharp bullish movement Thursday & Friday. All due to Trump insulting Euro and China through his Twitter, and the much-disliked meeting between him and Putin. His efforts in weakening the dollar are working enough to take over 3 days worth of sellers momentum.
Now the Technicals
Daily Chart shows morning star formation on a psychological price zone. We have a lot of buyer exhaustion on Weekly charts and on the Monthly. We're showing a strong bullish trend on 1h, and 4h Timeframes with supporting structure. Expecting a retrace at market open to maybe 38.2, and bounce off of my weekly line. Giving the strong bullish momentum needed to engulf early on in the new week. Potentially completing a monthly morning star pattern before the month is over.
We're heading into August bullish, heading for potential PRZ points on the monthly now that we have finally established a point B (At 100% PRZ and psychological prize zone.
For More
Check out InvestorsToken for more on Foreign Markets.
Psychology: How Much Should I Risk?
Disclaimer:
Please bare in mind that all views and opinions by me carry no responsibilities if any losses are realized on your behalf. Please always trade smart and with caution.
Trade active:
78.6 Retracement. Engulfing on the hourly, structure broken. EU is ready to shoot up.
Trade active:
EU dropped to touch previous resistance, strengthening trend. Broke structure, 4H engulfing another 78.6 PRZ. Aiming for about 35 pips to TP1, Trailing long term for the rest of the week (Due to Morning star formation on Daily.)
Comment:
If prize can get to 1.17050 - 1.17100 we'll blow out a lot of stop losses and bulls will take over
Comment:
TAKEOFF!
Comment:
News coming out at 10a EST. Looks to be in dollars favor.
Trade closed manually:
Position closed. Engulfing and Kangaroo tail on hourly. GU melted down. News in USD favor.