Hello Traders,
As the Fed decides to raise rates we must look at the long term effect this will have on the market. In EURUSD for example a break of 1.04624 gives way for bears to take control of this pair. If and only if there is a break across and a close across 1.04624 will I consider taking a short for this pair. At the very least it will have to happen on the Daily Time Frame.
Once that event takes place, you can comfortably take a short with a stop loss above the structure or however you prefer to trade.
Very High Probability Target = 0.96872
High Probability Target = 0.89149
Medium Probability Target = 0.77855
Will be keeping a close eye on the structure in the days and weeks to come.
Best,
Chartistry
As the Fed decides to raise rates we must look at the long term effect this will have on the market. In EURUSD for example a break of 1.04624 gives way for bears to take control of this pair. If and only if there is a break across and a close across 1.04624 will I consider taking a short for this pair. At the very least it will have to happen on the Daily Time Frame.
Once that event takes place, you can comfortably take a short with a stop loss above the structure or however you prefer to trade.
Very High Probability Target = 0.96872
High Probability Target = 0.89149
Medium Probability Target = 0.77855
Will be keeping a close eye on the structure in the days and weeks to come.
Best,
Chartistry
Note
Update: A break of the major R/S of 1.04624 will trigger a move towards the 1-4 line on the H4 time frame.Best,
Chartistry
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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.
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.