When you find a trend and want in, it's important to find a good entry on a pullback(correction). When trend resumes you get paid. In first blue box we trended down 112 pips before a pullback occurred. Lets call that 100%. Yellow box is the pullback and second blue box is trend resuming after pullback. This second trend should travel same distance as first which...
A descending resistance trendline since 11/19 has been respected for the 6th time today making this a good time to short EurUsd with a stop above 1.2455 which is today's high. Currently off that high and momentum returning to downside.
1.2532 should be respected based on this descending channel and suggests lower highs. Also at .328 shows further resistance which was previous support at this level.
