Short

EURUSD just hit this weeks high 1.17400 (Idea)

Updated

I drew this up last night thinking it would happen during the london session. But after today's confluence of the bullish day trade reached it's pivot point was the exact same Weekly Bearish Omptimal trade entry.

Todays Bull trade, entry at 1.6940 was the 62% retracement around 8:30 A.M. Eastern time. That same fibonacci's pivot point meets the the 70.5 percent retracement from last weeks swing high and low.

Todays Bull trade

The Zone I drew Up last night

Confluence of Both Fib Levels

In the main window is the weekly bearish trade. You still have time to enter.

Trade active

I tried to get as exact as I could with the 5M chart with the fibonacci and the areas I was referring too. It looks like we still have a little more wiggle room. But I'm not expecting it to go higher than 1.17600. And if it does, then I'm flat out wrong. But the Commitment of Traders has the commercial banks going short on the EU. So I'm a expecting a bearish weekly EU. I Just needed to find the weekly high and trade that. And I believe I found it.

Trade active

There's another Optimal Trade entry if you didn't get in within the last hour when it was hanging around 1.17450

Trade active

The DXY is at a 70.5% retracement from ;last week. We should see the dollar increase for the week. Weakening the EURUSD.

And It's already happening

Trade active

Created a breaker at 1.17357

BodiesXWix

You're either trading with Smart Money Theory or your just burning your money money. Believe me, I've been there.

Also on:

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.