Update on EURUSD Opportunity for Sells
Updated
Posting an update to my analysis from the beginning of the week. Since my previous update, we saw a clear sign of weakness. Then the price created another creek and after this final distribution, created one more thrust before consolidating then starting the descent down.
I entered at the imbalance as I wasn't expecting another UT before pushing down. The entry wasn't so great and I needed to maintain a large SL to hold this trade but fortunately, it ended up going in my direction.
As of right now, the price has broken the structure with an hourly close. The 4h will be closing in 45 minutes and if it can close below the previous structure, the probability to continue further down increases.
For this trade, I am targeting 1.201 but expecting the price to go all the way down anywhere between 1.18 to 1.195 before starting the next wave up.
I am here to learn so please don't hesitate to provide comments or suggestions on my analysis. It would be greatly appreciated.
Trade Safe!
HEET
Previous Analysis:
Zoom out on HTF:
I entered at the imbalance as I wasn't expecting another UT before pushing down. The entry wasn't so great and I needed to maintain a large SL to hold this trade but fortunately, it ended up going in my direction.
As of right now, the price has broken the structure with an hourly close. The 4h will be closing in 45 minutes and if it can close below the previous structure, the probability to continue further down increases.
For this trade, I am targeting 1.201 but expecting the price to go all the way down anywhere between 1.18 to 1.195 before starting the next wave up.
I am here to learn so please don't hesitate to provide comments or suggestions on my analysis. It would be greatly appreciated.
Trade Safe!
HEET
Previous Analysis:
Zoom out on HTF:
Trade closed manually
I exited the trade at 70 pips after the news. I was thinking it would retrace but didn't think it would retrace so much. So lucky I exited the trade.
But, it doesn't really make a lot of sense that it retraced so far. US news was good. EUR news was bad. And Equities looks to be down. USD should have continued strong pushing EUR down but the opposite happened.
Best to let the market do its thing and come back another day.
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