Short

EURUSD - Daily Short - 9/13

Updated

Good Morning Everyone,

Update to the Pending EURUSD Short

EURUSD confirmed on the daily a break of the lower support of an Ascending Wedge that was being monitored. After a False Break the support had to be redrawn and allowed bulls to give a shot. The market quickly snuffed out the bulls and bears absolutely dominated the last half of the Tuesday's trading day.

Short at Market - keeping eyes on a target around 1.17, will re-evaluate if need be.

Due to circumstances surrounding this entry I believe the retest confirmation entry will be limited to the 1.1925 area. Do not expect an opportunity near 1.1950.

Trade Safe!

Note

Just wanted to update you all, this trade is still very much alive. Further confirmed my the previous support holding as a resistance Friday, in addition to the bullish strength gained during Friday's trade session lots due to North Korea's disturbance has been broken.

Bears are in control of the market - it's just a little bit sloppy because of missiles being launched in other parts of the world.

Need additional confirmation? Check out the daily at close today.

Note

Note

Market is waiting on FOMC Wednesday - See updated structure. Breakout is pending.

My personal bias remains to the downside - but I can see it going either way. Be extremely weary of any break before the FOMC, to the upside or downside. The market is waiting for that meeting.

Trade closed: target reached

We're in the target zone! It took a little longer than expected to see things get going, but overall a fairly direct trade. I'll be flat on EUR/USD for the moment. I have no thoughts on it's next major move at the moment.

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