- Key supply area and failing to break
- Price is exhausted / long extended wicks
- Bearish pressure
- Break of 0.786 fib level and close below
I'll be placing an order @ 0.618 fib level. If price closes below the 0.786 fib level then I expect a move to the most recent lows.
1.Market created minor resistant with no indications of buyers
2. Sells at the close of the candle
3. SL at the top of the candle
5. TP at the previous high of the candle
1.Close one trade at 10 pips and leave a runner.
2.Move SL to 50% and leave runner.
After a break below support on the daily TF, this pair has now approached this level for a test. I expect this pair to reject the level as resistance before continuation to the downside and creation a lower low on the daily TF. On the 4hr TF, the pair is forming a head and shoulder at the area where daily resistance is expected. This chart pattern presents a good...
Alot of traders have been trying to short EU last week... But the trend Keep moving to the upside....
Maybe with the way I personally look at EU right now, shorting it might be this week....
What do you think Guys
Price tested flip horizontal resistance + 0.5 fibonacci retracement level + downtrend resistance. The market is printing the head and shoulder trend reversal pattern. RSI is also printing a Bearish divergence signal. A breakout below the neckline of the H&S pattern could lead to further dip.
From a technical perspective, many would assume this pair is now ready to fly to the downside after breaking the ascending channel it was caught in. After analyzing the DXY, a major factor in the movement of this pair. My opinion is that we will potentially see a break back within the channel with room for more upside. My bias remains bearish...
See previous post, such a nice short set up on EU.
After seeing a break out on the higher time frame was awaiting a pull back at re-test of structure which we now have.
I entered this trade after a double top on the 15min chart, with RSI divergence this is also right at strcuture and has hit the 50% fib retracement.
text- book trade very...
Price is stepping down and still obeying structure, we have to respect the downtrend we are presented with and have a bearish outlook until we see a structural shift as illustrated. We had a huge bearish engulfing candle on the weekly timeframe so a pullback is likely but not 100%, the market conditions have changed quite a bit recenty and we are finding that...