EURUSD: DAY 3 SHORTS in the marketHi everyone and welcome to my channel, please don’t forget to support all my work subscribing and liking my post, and for any question leave me a comment, I will be more than happy to help you!
“Trade setups, not movements”
Let’s jump into the Technical Analysis:
WEEKLY TEMPLATE (1hr chart):
Since Monday this market has been trending down, triggering shorts breakout traders in the market for three days in a row, potential signal of reverse considering the price at the low of the week
DAILY TEMPLATE (15min chart):
Price after asian session printed high low of the day, it pinned down into the LOW and pumped up.
THESIS :
Major red news on calendar, no trade before 9:45am NYT
Long: considering 3 days of order flow trapped lower and lower, money and stops are placed above the HOW, this could complete a weekly dump and pump template by tomorrow.
Short: I can't exclude that this market is still breaking down and keep going lower considering, however, the market still in the backside of the move.
SETUP :
Long: dump into the previous closing price (CP), consolidation for 30/45 min and pump back to the HOW, or eventually first bar entry after news release If a green strong momentum bar is presented with news.
Short: Pump into Monday low (opening range), or previous HOD, consolidation for a dump back into the current LOD/LOW.
If none of this scenario will present, I wouldn't consider any other trade setup variations.
Please note that the purpose of my analysis is to help me and you hunting the best trade setup for the day, none of my technical aspects are a way to forecast any directional market movement.
Gianni
