EURUSD Trading -- Risky but great rewards -- Follow the AI guy

RELENTLESS 100 pips recovery for the EURUSD and we might now see the Downtrend resume if the EURUSD can't hold 1.1640 and then 1.1600 . If those levels dont hold then we are heading back to 1.1500 level. EURUSD has a lot of head winds so it a little tricky until we can put to rest the the italian political mess .

Date: 8:00 am EST , 30/05/2018
Lots: 8
Short Entry (SELL): 1.1646
1st Exit : 1:1600 --- 5 Lots
2nd Exit: 1:1575 --- 2 Lots
3rd Exit: 1:1534 --- 1 Lot

Anticipated RISK: Dollar Index (DXY) volatility and the BIG BOYS positioning.

Note

EURUSD has held above 1.1640 for the remainder of the day. I am a little suspicious of the recovery today of over 122 pips . That's higher than the daily average true range for EURSUD = 30 to 70 Pips. My only conclusion

1. It was the extreme sell off due Italian political Mess and the EURO Longs were caught offguard. So recovery was inevitable after cooling down

2. EURUSD was extremely oversold ( H4 & Daily) in the short term so it was bound to bounce anytime . I think that yesterday's " ITALEXIT " fears caused the a much stronger recovery due short-term Longs being squeezed .

Now what ? EURUSD is still holding on as of now. If the EURUSD climbs to 1.1725 and maintains the momentum then we scrap our trade.

MORNING ENTRY
Date: 8:00 am EST , 30/05/2018
Lots: 8
Short Entry (SELL): 1.1646
1st Exit : 1:1600 --- 5 Lots
2nd Exit: 1:1575 --- 2 Lots
3rd Exit: 1:1534 --- 1 Lot

EVENING ENTRY
Date: 4:00 pm EST , 30/05/2018
Lots: 5
Short Entry (SELL): 1.1663
1st Exit : 1:1600 --- 3 Lots
2nd Exit: 1:1575 --- 1 Lots
3rd Exit: 1:1534 --- 1 Lot

Note

SCRAP (GET OUT!!!!!) this trade if EURUSD remains above 1.1700 . Let's Live to fight another day

Note

LOOK FOR FADING MOMENTUM IN THE UPTREND:

EURUSD is still Bearish in the next 2 to 3 weeks but Scrap the yesterday's trade and wait for exhaustion at from 1.1703 to 1.1750 and we can re-enter the trade if it works out . If the uptrend accelerates above 1.1750 and remains above then Scrap the trade (Don't enter the trade)

MORNING ENTRY
Date: 8:00 am EST , 31/05/2018
Lots: 8
Short Entry (SELL): 1.1703 to 1.1750
1st Exit : 1:1650 --- 5 Lots
2nd Exit: 1:1600 --- 2 Lots
3rd Exit: 1:1575 --- 1 Lot

Note

Looks like " Retail traders will be left holding the bug"
- "ITALEXIT" is now contained somehow
- SPAIN political mess is now contained somehow
- EUROZone Data is weak compare to USD Data
- US NFP & ISM today are strong numbers compared to consensus
- US Tariffs on EU , Mexico and Canada have mixed market opinions as to the Short term effect on the USD and also EURO . Long-Term Tariffs might hurt both US & EURO but EURO more because of its Export oriented economy

Everything from the Macro & Fundamentals , Technicals and AI suggest EURUSD should have dropped below 1.1590 today but everytime it tried to drop it bounced back violently indicating some "BIG BOY" might be protecting the some OPTIONS around 1.1600 to 1.1620 ( which is also a major support)

Any ideas ?

developeralgo222

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developeralgo222