The big question everyone has now a days is when is the EUR/USD going to go down and that's something only the big boys know who control the market with trillions of dollars. The one thing I can say now is were heading into some very critical levels now and I really feel like its now or never for the EUR/USD.
I'm going to explain a couple of reason to start thinking about shorting the EUR/USD
1. Weekly and Daily Resistance are both ticked at 1.1759
2. We are also approaching a daily major supply zone between 1.1786 and 1.1870 and this is highlight in my chart as the red box.
3. If we zoom into the 4 hour chart then we can clearly see 1.1800 psychological number being approached as well as the resistance at 1.1812 where market movers may push the pair down hard.
Here is my suggestion with this pair, I've set a yellow box on my chart of where the big boys are possibly waiting to short this bad boy. 1.1800-1.1823 is the range where the possible market moving short orders are possibly placed and so you always want to be with the smart money.
For right now stop losses are really a personal thing and I'm not going to give anyone suggestions on how to manage a trade or how not to but I would strongly suggest to stick to you money management and risk management that you are most comfortable with.
I'm going to explain a couple of reason to start thinking about shorting the EUR/USD
1. Weekly and Daily Resistance are both ticked at 1.1759
2. We are also approaching a daily major supply zone between 1.1786 and 1.1870 and this is highlight in my chart as the red box.
3. If we zoom into the 4 hour chart then we can clearly see 1.1800 psychological number being approached as well as the resistance at 1.1812 where market movers may push the pair down hard.
Here is my suggestion with this pair, I've set a yellow box on my chart of where the big boys are possibly waiting to short this bad boy. 1.1800-1.1823 is the range where the possible market moving short orders are possibly placed and so you always want to be with the smart money.
For right now stop losses are really a personal thing and I'm not going to give anyone suggestions on how to manage a trade or how not to but I would strongly suggest to stick to you money management and risk management that you are most comfortable with.
Comment:
I will update when I go short on this pair until then I've set a entry order.
Comment:
Resistance at 1.1759 has been broken so now I've placed a sell entry order at 1.1812
Comment:
Entry order could get triggered any moment now.
Trade active:
Entry Level: 1.1812
Comment:
Once price leaves supply zone (Red Box) I will be posting take profits.
Comment:
Market is still creating liquidity for the move down so wait patiently
Comment:
Set stop losses at 1.1870 which is the end of the major supply zone.
Comment:
Take profit region is 1.1723-1.1744 this is demand area on the 4 hour supply and demand chart.
Comment:
this should give trade about a 60-70 pip profit on this trade.
Comment:
Comment:
High Impact EUR News will be releasing soon.
Comment:
15 Minute Chart
Comment:
Move stop losses to 1.1850 to reduce risk now that price is moving down.
Comment:
US Spending Data releases in 10 minutes.
Comment:
Price is forming a double top on 4 Hour and 8 Hour charts
Order cancelled