The EUR/USD is setting up nicely for a short on the daily chart. With two possible entry points we will be waiting for the second point to trigger our short. We will be taking this pair short up near 1.13850 area with huge profit potential of 400 Pips which is the tops set back in late March of 2015. Our stop will be if point X is taken out which is a break of...
A detailed description od scenario 2 (rejection)
If the former Fair value @0869ish gets rejected due to a lack of demand ie. no one is
following price any higher , and we make a series of lower highs ie. former fair value is now considered unfair high
we might head down to test A) the lower channel line and /or B) the fair value of the recent level where price...
pretty much covered every possible and playable scenario on EU H1 , just observe price and which scenario plays out, plan the trades and trade the plan ;)
The last AB drop could repeat as a CD leg towards last structure lows at 1.204-1.207.
We could see a turn around there because of multiple divergences on the RSI and other indicators.
But for now short is the better side on the market.
The Market did not show any pullback scenario for going back into the uptrend which got a break after Draghi speech before June.
Because of this less potential for a pullback I assume the broken uptrend which led into a downtrend will get a sequel this or next week. Therefore pay attention to the red horizontal resistance areas.
If we See on 1D TF , i think this is rising wedge.. the parabolic SAR is above candlestick now,MACD Crossover,RSI sill look bearish,look at the kumo :D .i suggest to look 4H TF to place your position.. in my opinion : price will move up first then go short all day :)
