The most traded currency pairs in the world are called “the Majors” and the EURUSD leads this group as the most traded pair in the world. This pair represents the world two largest economies and has faced most volatility since the inception of the euro in 1999.
A week ago i went long on EURUSD -0.02% and TP1 was realized and the trade was closed at Take Profit 1 which is 38,2% of the CD leg of the Gartley Pattern .
Price retested the 1,1729 level and found resistance and due to this retest, a type 2 reversal trade opportunity came alive on this Gartley Pattern .
Our Take profit 1 is now 61.8% of the CD leg and my TP 2 ...
Although we're in a 4hr and 1 hr downtrend, price looks to be seeking out the outer channel line for support, as well as the green dotted support line where daily and weekly buyers live. These buyers have breached from here previoulsy as well as bounced price from here.
This green line is representative of very good buying value, this should be your target entry ...
I've tried to keep this as clean as possible but, there's so much going on in this chart so please bear with me.
Price action on EURUSD has come into a previously identified support level anticipated to be a rally point following the break down below the neckline of an H&S identified on the Daily Charts (not shown/addressed here). This support level was ...
Expecting this to pullback toward the lower channel / 20 week moving average. RSI will be the guide for me here - there is absolutely mimemtum to take it lower.
First of all: the last trade which we short from 1.1994
is very profitable. +300 pips, so it is wise to take some profit of the previous trade
PLAN A: If the bullish BAT pattern works
and price failed to break down 1.1660
,we can consider to buy EURUSD and aim for 1.1841 and 1.1937
PLAN B:
If NFP is very good and Dollar get strong,
when we see 1.1660 is ...
