ShayanJZ

ShayanJZ

daily 4 hours 1 hour chart confirms our short bias and the downward movement is respecting the fib levels very high probability for a short trade

ShayanJZ

head and shoulders and daily and on 4 hours clear rejection of 61.8%. you can put your stoploss higher but I think it better to put the stoploss below the left shoulder wicks on daily

ShayanJZ

the second push to the upside as we still have room to hit weekly and monthly resistance

ShayanJZ

coming down from monthly too 4 hours everything is pointing toward a long position

ShayanJZ

expecting manipulations and pressure to fill up the gap and a good retracement for long position

ShayanJZ

just waiting for a retracement to confirm another wave moving up as we still have room to grow on eurousd to hit weekly resistance

ShayanJZ

sell limit order waiting for the price to retrace

ShayanJZ

waiting for a pullback to continue the wave to the down side

ShayanJZ

its all about knowing the direction I have a short bias on this pair according to higher time frames but waiting for the price to reach where i can get a good RR ratio, you can enter at this price for a 1 to 1 RR ratio tp on 27% Fib ratio but its better to just for for the sell limit to get activated as we have missed on the first wave

ShayanJZ

expecting some manipulations so if the price doesnt hit until tuesday i will cancel the sell limit but generally a good supply zone you may wanna keep it

ShayanJZ

good looking divergence at resistance at a pulleback, since of uptrend weakness on price action for a nice 1 to RR ratio you can put the SL lower as you wish

ShayanJZ

This is an update, I've been waiting for a retest to enter, check the related idea

ShayanJZ

before reaching the grey Areas or breaking the trend lines there is no possible short entry as euro is getting stronger as a currency it self too, its quite risky to enter without confirmation but as the ladder shows, we are clearly seeing weakness in the on going uptrend

ShayanJZ

if we get a break out of this formation we can enter long or short depending on the broke side with 4 hours retest confirmation

ShayanJZ

any breakout and retest of the triangle formation withing the cross will be an indication of market movement

ShayanJZ Updated 

this formation is quite rare but Im always looking for it in any chart or time frame, do not take it blindly wait for a break out formation or confirmations such as rejection or retest of broken trend line or dievergences for now im still waiting too what is going to happen

ShayanJZ

i call it the cross formation that you can see on the chart it has a very high probability since it forms in a trending market so i expect the price keep changing trend to upside and downside until we get to range and correction conditions

ShayanJZ

waiting for confirmation from 4 hour chart if we get a good rejection we enter for a good Risk to Reward trade