freddyM-E
Short

EURUSD 4H Short

FX:EURUSD   Euro / U.S. Dollar
https://uk.tradingview.com/chart/YOi2B49t/

I have entered short today on the EURUSD             ( I know not the best idea to enter a positin on a Friday but I'm still learning and I'm testing my aggressiveness )

Technical analysis:
On the weekly: The market has respected the major structure level now resistance, and the sellers aggressively took over.
RSI: Overbought (as per my strategy where the overbought on the RSI is 75)

On the daily: The market has respected this level of resistance for 5 days and today (Friday) we have a shooting star that forms at the 0.618 retracement of the down leg.
RSI: On divergence

On The 4H (my entry): The market has created a double top at a major structure. By my strategy rules if the market creates a double top (a lower close than previous high, no higher high) at major weekly structure I would enter the market at the second candle.
Since my entry the market as now created a triple top and has been going down for the past 12 hours
RSI: Double bullish divergence

I am also aware that the market it bouncing between 2 major weekly structures, so the market might consolidate for a period of time. But that's where I use a little fundamental.

I think the EUR is doing better than the USD at the moment. so time will tell.

Please leave a comment, I would appreciate it, any feedback welcome.

Happy trading.






Agreed on.the short
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