EU easy 800 pip short. Follow the chart & count your profits.
New to Tradingview but veteran to Forex markets. Follow the charts and I will help spread the wealth.
This is a common pattern that the MM love to produce on EURUSD. From this area, most long term level traders would be expecting almost a full retrace back to level 1. However, this will most certainly not get there as the recent stop hunt elucidates their true intentions. From here they will look to move price up to the 1.12642 area. I assume price won't reach this locus until some point after Tuesday because this slight move up will become the pin (trap) for the new monthly bar. The logic behind this slight ascension above recent resistance/fibs will be to stop out any weak shorts who are in correct position, while providing MM with new longs who will be trapped on the wrong side of the imminent descension. After they collected orders and displaced retail traders, price will drop like a rock down to the 1.0350 area. When price reaches the 1.0350 area it will drop even further. I will post a prediction for price flow when it reaches that level.
Good luck all. Follow the prediction, stack your chips & don't be long.
GoG
This is a common pattern that the MM love to produce on EURUSD. From this area, most long term level traders would be expecting almost a full retrace back to level 1. However, this will most certainly not get there as the recent stop hunt elucidates their true intentions. From here they will look to move price up to the 1.12642 area. I assume price won't reach this locus until some point after Tuesday because this slight move up will become the pin (trap) for the new monthly bar. The logic behind this slight ascension above recent resistance/fibs will be to stop out any weak shorts who are in correct position, while providing MM with new longs who will be trapped on the wrong side of the imminent descension. After they collected orders and displaced retail traders, price will drop like a rock down to the 1.0350 area. When price reaches the 1.0350 area it will drop even further. I will post a prediction for price flow when it reaches that level.
Good luck all. Follow the prediction, stack your chips & don't be long.
GoG