EUR.USD H4 Short 13CCI tlb, fib trgt
Updated
H4 13CCI crossed down thru an up-trendline on the CCI. Given that, the entry short on EUR.USD is immediate for experienced eyes, or as soon as CCI came below +100 on CCI for conservative traders. The price now is on S/R going back thru July, and is on or close to a median line for pitchfork starting Aug 18, depending on your software.
The S/R area may hold price up temporarily. A break below might aim for a 38.% retracment of move up from mid-June to Sept 1, 2020, possibly near price intersection of the 38.2% retr. line and the lower median line possibly the end of this week or early next week ~~~1.17-1.166
The exit would be a CCI tlb of an up-trendline or a fib target
The S/R area may hold price up temporarily. A break below might aim for a 38.% retracment of move up from mid-June to Sept 1, 2020, possibly near price intersection of the 38.2% retr. line and the lower median line possibly the end of this week or early next week ~~~1.17-1.166
The exit would be a CCI tlb of an up-trendline or a fib target
Note
Added 1.18960 ~12:08 9/15 but forgot to post. Price now 1.185 with possible retrace to ~ 1.1864 so be careful and not use wrong-size SL. H4 chart still shows potentially long downmoveNote
EUR.USD gave yet another opportunity to short 9:-12:30 GMT today 9/16, dropping 72p after a B leg retr. up. Need to pay attention now and not give up profits, because *price is again on support going back thru Aug., *and abc pattern down since 11:0GMT 9/15 may be all EU needed, and * price often stays sideways another ~~3hr until FOMC announcement today.On the side of continuation is the H4 13CCI, still in a down pattern unil CCI crosses up thru a down trendline on CCI and gets above -100.
Note
Though price has another 60 p to drop to reach 38.2% retrace shown on chart, and could drop easily another 140p after that, right now 9/17/20 2:02 GMT, ~ 1.176, price is again on an oft-tested S/R, so again protect awesome profitsNote
Will re-short at fib 38.2% retr of downmove 9/16 9:00 to 9/17 3:00) ~1.1794 forTP near 38.2% retr on H4 ~1.16870Note
I'm exiting all short legs now 1.1696 because EUR.USD close to 38.2% fib retr.of June Sept 1 upmove. 300 p overallThe H4 price pattern looks as if the H&S target ~~~1.155 i still available below.
But first I;d expect a bounce up from the 38.2% retr., and a long can be taken when CCI crosses upp thru a downCCI tl.
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