EURUSD declining trend. The two wave sequences shown in my analysis. Dashed lines indicate D1ATR axes. It can be seen from the figure that in both cases the angle of the axes is similar. It can also be seen that similar wave sequences are built during the decreasing ATR. I am trying to trade this set of rules now. I highlighted two fractals with a white line....
I am going short for EURUSD just because we are now in a down trend and looks like price is once again rejecting this area of res.... Also a break below the H4 trend line indicates a trend reversal... 8)
Entry details are shown on the chart.
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I try and share as many ideas as I can as and when I have time. My trades are automated so I am not sat in front of a screen daily.
Jumping on random trade ideas 'willy-nilly' on Trading View trying to find that one trade that you can retire from is not a sustainable way to...
I see a series of higher lows, broken trendline and a retest of a daily support level.. 4hr Doji which could mean potential trend continuation... watch out now ;)
This pair is ready to take on some bearish pressure after wiping out minor sellers and previous structure.
You could sell from this region here or wait for a clean crossover the horizontal arrow marked.
Expectations are a decline.
Instructions - if trade flat or has not moved in the next 24 hours, take small loss or small profit.
Trade with caution, this is not financial advice.
Entry: Market
SL: 1.22520
TP: 1.18500
The EURUSD correction may continue. The analysis shows that the ascending wave sequences (green square) are the same size (1x). The correction response waves given to these (1x, 2x, 4x) wave sequences marked with a red square are doubled. Therefore, if we keep in mind the law of the wave sequence, it can be assumed that the 4x wave sequence now follows. Briefly,...
EURUSD further decline. Analysis shows that the upward movement of the EURUSD stopped at W1ATR50%. W1ATR (gray box) means how far EURUSD can travel in 1 week based on the weekly ATR. 50% of this distance can be a very strong resistance or even a support level. The current assumption is that it will turn south of this level. Building a second descending wave sequence.
Expectations are a decline.
Instructions - if trade flat or has not moved in the next 24 hours, take small loss or small profit.
Trade with caution, this is not financial advice.
Entry: Market
SL: 1.21650
TP: 1.20200
Confluences:
- Reverse head and shoulders pattern has been fully formed
- General downtrend on the monthly timeframe
- Expecting a bearish engulfing candle to form to signal the start of a downtrend
