Starting off short here at the current June '19 high.
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nice touch!
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The pair has made a top and begun a move down. It has closed below the swing low created at the top. It should at least reach the 50% of the move up at 1.1232. It is expected that subsequently it will probably move back to the recent high before reversing for a move down to the 1.09—1.08 area.
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Flat for now and waiting for the top to form. Looks to be heading for a double top in the 1.1420 area.
Note
The pair is consolidating for now. Will wait for an entry to develop.
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Short from 1.1174. Until this closes below the 50% line it could go either way. The projection off the double top completed Friday indicates ~1.08. We'll see.
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Short from 1.1164. This should continue down now.
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This may turn here, or could continue to the previous high around 1.1250. Either price has significant overhead resistance. Holding short here and will add at 1.1250. A daily close above the 1250 area will be the SL for the short and prompt a move to long after a pullback.
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A reversal occurred when the pair moved and subsequently closed below the low of the candle forming the high for the move up. A dot entry has also been triggered further down and right around the 50% line for the last section up. The short will be continued until the dots say otherwise. Initial expectation is for a revisit of the 1.09 price range before continuing further down.
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The pair has reversed and profit was taken on the short. A long entry signal has not yet been triggered, so the position is flat for now.
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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.