Looking at the 1hr chart the EURUSD has a few setups that look increasingly bearish:
1. Triple top reversal earlier in the session
2. Failure to create bullish break of longer term consolidation triangle
3. MA cross into bearish
4. Previous redbound on 4hr 100 MA being testing - awaiting confirmation
5. 'Threes a crowd' - Price down test into MA bearish cross
6. Testing 38.2 retracement from the low to triple top high area
6. MA on daily crossed into bearish earlier in the week
A lot of arguements for the bearish position, keeping the risk to minimum and trading what is seen with a logical stop location. If all the technicals are right theis should setup a limit risk opportunity with high reward.
Note this is only my personal opinions and NOT trading advice - I do not endorse any use of the above, it is for information only
1. Triple top reversal earlier in the session
2. Failure to create bullish break of longer term consolidation triangle
3. MA cross into bearish
4. Previous redbound on 4hr 100 MA being testing - awaiting confirmation
5. 'Threes a crowd' - Price down test into MA bearish cross
6. Testing 38.2 retracement from the low to triple top high area
6. MA on daily crossed into bearish earlier in the week
A lot of arguements for the bearish position, keeping the risk to minimum and trading what is seen with a logical stop location. If all the technicals are right theis should setup a limit risk opportunity with high reward.
Note this is only my personal opinions and NOT trading advice - I do not endorse any use of the above, it is for information only
Trade active
All five trade reasons triggered at 1.1685Trade running with first target at lower consolidation triangle with risk defined at 4hr 100ma
Trade active
Price is running lower - first target to move stop to the 50% fibNote
Price pushed through 50 fib and is currently testing 200ma on 4hr chart
Continuation of bearish move expected next step is the swing area at 1.1645-1.1640 if breach is acheived bearish bias is considerably reinforced for a test of the longer term consildation triangle
Trade active
Price traded prefectly down to the consolidation triangle, allow partial profit to be taken.
Awaiting confirmation of a break of the trendline before reinvesting profits in a continuation of the short move
Trade active
Took some profit at the break of the line looking to see the length of the run down on the break.
The break was not substantial and a rebound to test the triangle occured today - perfect place to reinvest the profit with small stop to capture the slower and longer move down
Anyone else in this trade? What are your thoughts/targets etc.
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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.
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.