EUR/USD getting ready to short

2 thg 8, 2016

Indicators are saying we should be looking for a shorting opportunity soon. A strong break of the 4 hr (blue) TL will give us a good opportunity. (see my break out rules link below)
Likewise if price gets up to the daily and weekly TL (green and orange) look for a reversal there.
If a strong break of these lines occurs with a shallow pullback look for a long to the 1.15-1.16 area.

Educate yourself, create a trade plan, validate your trades with other trader's ideas. Own your trade good or bad.

3 thg 8, 2016

Ghi chú

I did not take this trade as the move through the trend line was too shallow at first looking like a correction or flag. It then fell away steeply but the RR is not there. I will look for bear flag pullback to possibly short. If we get a strong sharp rise look for it to test the trend line before dropping.

4 thg 8, 2016

Ghi chú

The breakout seems to be tapering off. I am expecting another move up to challenge the TL.

5 thg 8, 2016

Ghi chú