As we have been in a long term down trend for the last couple months we are long term bearish on
EURUSD
. Expecting price to drop to our magnet zone.
It seems price is retracing so we are short term bullish until price reaches short zone 1 where we will be looking to short. If price does not respect zone 1 then we will look to short from zone 2.
However we are also weary price may continue dropping from here and create new lows. We will look to see how this week ends. EU price has been choppy for the past several weeks so we are on standby until we get a clear indication of price respecting our zones.
EURUSD
. Expecting price to drop to our magnet zone. It seems price is retracing so we are short term bullish until price reaches short zone 1 where we will be looking to short. If price does not respect zone 1 then we will look to short from zone 2.
However we are also weary price may continue dropping from here and create new lows. We will look to see how this week ends. EU price has been choppy for the past several weeks so we are on standby until we get a clear indication of price respecting our zones.
Trade closed: target reached:
We thought price would retrace back to our short zone to give us an entry before dropping however it seems price had other ideas so we missed this one.
On to the next!
On to the next!