EURUSD push lower to 0.98650 handle
Updated
Hi all,
Been a while since I last posted due to me taking time out the markets and what not, anyways enough of the boring stuff lets talk about EURUSD shorts!
So my bias on the EURUSD coming lower (Or EURUSD SHORTS) is based of several factors such as them being;
1. We have market structure
2. We had fundamental data
3. Price charts
4. Moving averages
We can see a clear non break in a higher high, if we take the previous high that was respected creating a double top and today it being a shorting market we can see that this was a 'respected pattern'.
We also had a crazy spike taking out a lot of sellers in the market yet the hourly candle finished as a bearish result, showing traders (longer short-term) a bearish pinbar , this indicates to me that there is more of a short yet before we see a move higher.
We used a reverse engineered indicator which shows us on a daily timeframe that there is more possibility given all the reasons above that there is more off a short bias on this pair.
My entry: 1.00402
Stop loss: 20 pips @ 1.00611
Target: 150+ pips @ 0.98667
*This is not a signal, it's a detailed analysis of the trade I will want to take. Take all trades at your own!*
Let me know what you all think in the comment section below.
You can also message me via the chatbox on Tradingview and lets make some profits!
MoneyMaliks.
Been a while since I last posted due to me taking time out the markets and what not, anyways enough of the boring stuff lets talk about EURUSD shorts!
So my bias on the EURUSD coming lower (Or EURUSD SHORTS) is based of several factors such as them being;
1. We have market structure
2. We had fundamental data
3. Price charts
4. Moving averages
We can see a clear non break in a higher high, if we take the previous high that was respected creating a double top and today it being a shorting market we can see that this was a 'respected pattern'.
We also had a crazy spike taking out a lot of sellers in the market yet the hourly candle finished as a bearish result, showing traders (longer short-term) a bearish pinbar , this indicates to me that there is more of a short yet before we see a move higher.
We used a reverse engineered indicator which shows us on a daily timeframe that there is more possibility given all the reasons above that there is more off a short bias on this pair.
My entry: 1.00402
Stop loss: 20 pips @ 1.00611
Target: 150+ pips @ 0.98667
*This is not a signal, it's a detailed analysis of the trade I will want to take. Take all trades at your own!*
Let me know what you all think in the comment section below.
You can also message me via the chatbox on Tradingview and lets make some profits!
MoneyMaliks.
Trade active
Woke up to find the entry was sniper, and we're currently up 80 pips! I've now moved my stop loss to 1.00397 and I have 0% risk on the table, I was risking 2% on this trade and do have a £70,000 account. so all in all a very good day! If you lot have taken this trade, you could close if you see fit, let me know if you took it.
MoneyMaliks
Trade closed manually
Hi all,so as you all know I took my stop loss to breakeven, however I did take partials are 90 pips! I didn't continue to monitor the pair after I had moved my stop to breakeven.
Nor did I look at the economic calendar for this pair (rookie mistake)
However, this trade in my opinion because I had a lot at 7.95 and only left 0.20 at 90 pips so this pair was definitely profitable and having 0% risk on the table was a plus plus.
MoneyMaliks
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