EURUSD | Monthly | Chapter 3 | No mercy, no Euro
Updated
After beeing stopped out of my last Short at EURUSD (See related idea). I took a look at the monthly chart.
Price is currently at a big support level. If we should see further movement down, (i would prefer to see 2 monthly open and closes under "Support area 1) i will look to short on a retest of said support area. SL would be based on a LTF however i would not want to see a open and close above Support area 1.
Main points:
- As long price doenst manage to get above Support area 1 (open and close of a monthly candle) i dont look to take any longterm longs.
- Current area is a no-trade-area as it easily could become an engulf and shoot above the Support area 1. As mentioned i prefer to see further down movement before going short.
Good luck
Disclaimer:
- This information does not constitute as financial advice and is only for educational purposes. I am not your financial advisor.
- You trade entirely at your own risk
- Make your own research
- Finance and trading is evil, capitalism is bad, duh ;)
Price is currently at a big support level. If we should see further movement down, (i would prefer to see 2 monthly open and closes under "Support area 1) i will look to short on a retest of said support area. SL would be based on a LTF however i would not want to see a open and close above Support area 1.
Main points:
- As long price doenst manage to get above Support area 1 (open and close of a monthly candle) i dont look to take any longterm longs.
- Current area is a no-trade-area as it easily could become an engulf and shoot above the Support area 1. As mentioned i prefer to see further down movement before going short.
Good luck
Disclaimer:
- This information does not constitute as financial advice and is only for educational purposes. I am not your financial advisor.
- You trade entirely at your own risk
- Make your own research
- Finance and trading is evil, capitalism is bad, duh ;)
Order cancelled
Scenario didnt develop, therefor no trade
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