After evaluating the the higher time frames it is evident that EU is in a long term short. As shown on the 4h TF you can see that it is clearly at the top of a downtrend channel hence why I believe now is a key time to short. Risking very little is key here as the R/R ratio is extremely well. Lets see how this plays out.
imo the downtrend channel is still being respected and the price has failed to break out previously. following my earlier short last week the price is again around the channel upper trend line. Time to short this baby again. Risking little again in the possible chance of it breaking out. Targets set, stop loss in place. Lets see this play-out.
As always I welcome ...
Rejected the weekly resistance level with spinning top and pinball formations.
Met 61.8 fib level on the daily and wasn't able to take that out and saw bearish momentum shortly after.
Seemed to be a false breakout of the daily trend line and now we can see price action coming back to the downside and below the 8 EMA which confirms that this trend line should be ...
EURUSD, Forecast EU next week !
( Prior analysis
https://uk.tradingview.com/chart/EURUSD/slxaJ0ns-EURUSD-View-next-week-Multi-timeframe/
https://uk.tradingview.com/chart/EURUSD/1LSS6P4H-EURUSD-Sell/ )
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Thanks
The decline in the exchange rate may slow down. The wave axis can go up to a correction level of 1.1260. We expect a rise from this level. The increment can build a 1.1260-1.1420 lane (yellow rectangle). In this province, multiple people may turn to the exchange rate. Then we expect a downfall and a further downward rate.
As traders, we understand that we can only ever play the probabilities.
For that reason, we want to be able to identify where the high probability trades are presented.
If we can identify an area of the market that is likely to be respected, we can build entry and exit rules around that move and capitalise.
Lots and lots of confluence here and I will be keeping ...
Hey traders,
First and foremost I want to wish you a great week of trading! I wanted to briefly follow up on my previous EURUSD post & show you that we also have a potential head & shoulders top forming as well for those who did not catch the initial downward move.
Also congrats England! Way to make it to the Semi's Let's see if it's really Coming Home
Your ...
In the screencast I show how I assess the probability and enter short.
As usual, this is not a prediction - as I don't do predictions, targets, signals, or confirmations.
I expect price to take me out at my stop-loss and I shall sleep very well tonight! :)) But if price moves in my favoured direction, I shall follow on a more suitable trend time frame to ...
Something to keep an eye out for on the $EURUSD this week is the formation of this head & shoulders bottom pattern. A violation of the neckline line would offer a price projection to the 1.1850's & 1.1950"s level in my opinion.
Akil
Has anyone else noticed that the Ref's in the NBA finals are wearing Golden State Warrior uniforms
EURUSD is in a clear long term downtrend on this 4hr chart analysis. Seems to be a minor pullback now which is a great opportunity to get in. risk reward is almost 2:3 at the moment but strong downtrend to the bottom of the channel. My opinion, DYOR.
PS: Red horizontal lines a long term major support and resistance lines. They can also be used for TP or SL ...
EURUSD Sell signal. First take profit level taken, the downside momentum on this pair is still strong, thus making this trade low risk. If the trade was entered when we entered, the chance of loss would have been eliminated as our stop losses are past entry points now.
Definition trend and change of trend ( Trend reversal)
Downtrend - Definition
A downtrend comprises a repeating sequence of:
1) A downward extension
2) A swing low
3) An upward pullback
4) A swing high
https://www.tradingview.com/x/AgcOSnu9/
A downtrend ends when price breaks the swing high which leads to the lowest swing low of the ...
Waiting patiently to see if we get the opportunity to enter short for my first chance entry on this H&S pattern on the EURUSD.
Some nice structure trades playing out over this last week particularly on the GBPJPY (see last post). Let it continue.
Good luck in the markets this week guys.
Jason G
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.
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