EURUSD Idea
Updated
The trend from the higher timeframes is starting to shift and liquidity has been created as price was retracing to the upside. I have drawn a fibonacci retracement tool and this zone is in confluence with previous resistance levels from the left. A nice change of character during london session and stops above the zone will be good for a short position. Incase price breaks the level, there is no setup. The EMAs are not so important because I am trading a flag in this case.
Trade active
There was no setup during london but my confirmation has manifested during New York OpenIt is a double top scenario around the fibonacci area I drew earlier. DXY has also started showing a change of character. I have a 25 pip stop and SL is at the recent lows. My first TP is at 1.0400. This setup may keep pushing because of its nature.
Comment
Comment
Note; I have correlation from GBPUSD.Comment
Divergence spotted
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.