Coming off 13 year lows- quick bounce for 100'ish pips
I have not been very excited to be short USD lately, I've been riding the trend along with everyone else, here are some reasons I'm looking to trade USD weakness on EURUSD.
1. the 13 year lows around 1.0500 have held very well
2. Short term charts are showing higher lows
3. we're approaching a solid trend line
So if there is an hourly open above the trend line, a retest of the trend line, I'm buying up towards 1.0740 and 1.0815 with stops below 1.0565.
I won't fight this trend too much, I will be aggressive to lock in profit and move stops along with the trade.
1. the 13 year lows around 1.0500 have held very well
2. Short term charts are showing higher lows
3. we're approaching a solid trend line
So if there is an hourly open above the trend line, a retest of the trend line, I'm buying up towards 1.0740 and 1.0815 with stops below 1.0565.
I won't fight this trend too much, I will be aggressive to lock in profit and move stops along with the trade.
Order cancelled
the retest of the trend line didn't hold, so I cancelled the trade, I'll look for another set up with this pair but I'm not watching anything else on this pair at the moment.
Jared Johnson
Union Hedge Funds
Union Hedge Funds
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Jared Johnson
Union Hedge Funds
Union Hedge Funds
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.