Once again I am looking to sell EURUSD:
-Price is at a strong daily supply/demand zone
-The Liquidity void from the EU referendum has now been filled
-Price is being rejected from an upper T/L
-Also consolidating at a previous support/resistance level.
-Could possibly be seeing the right shoulder of a Head and Shoulders pattern forming
My Last EURUSD short was ...
Gold is looking likely to continue towards the downside:
-Price is currently consolidating at a Key monthly level
-Price is also being rejected from a weekly trendline
-The purple line is a 382 fib re-tracement from the weekly time-frame, comes into congestion about 5-6 times with previous structure so is clearly a well respected level.
RR of 2.3:1
If price closes ...
I can see a long up to retest previous levels:
-Price currently in the daily supply zone
-At a very strong Daily Support/Resistance Level
As I need 3 reasons for entry, if the Ascending trend line is touched and price is rejected, i will enter for a RR of 1:2
A good opportunity to get short in USDJPY:
-Rejection of upper trend line
-Previous support has become resistance
-Retracement up to the 618 level
I put the stop just below a Previous supply/demand level to allow me to take a RR of near 1:3, with the first target down at the last low