EURUSD The Potential price movement while we get close to X DATE
Updated
The market is currently going through a period of uncertainty. The market is very optimist about the Debt Ceiling agreement. This is definitely going to be a Catalyst this week and half of the following week. If the agreement is seal we could see a strong dollar.
This trading idea is based on what is the price doing in Daily time frame. Also taking into consideration the Catalyst.
In Daily time frame we have a price trending down. The price already stablished the last Lower High with a three-formation candle. The Price already gave us a nice move to the downside. The next point of entry could be at the price inefficiency of the third candle of the three-formation candle. Which is the zone that is presented in this trading idea.
The 1st take profit is based on important level of liquidity. The 2nd take profit is based on -.272 fib level and the 3rd take profit is based on important level of liquidity that is in confluence with the -.618 fib level.
It is important to know that the market will be very sensitive with any important update about the debt ceiling.
This trading idea is based on what is the price doing in Daily time frame. Also taking into consideration the Catalyst.
In Daily time frame we have a price trending down. The price already stablished the last Lower High with a three-formation candle. The Price already gave us a nice move to the downside. The next point of entry could be at the price inefficiency of the third candle of the three-formation candle. Which is the zone that is presented in this trading idea.
The 1st take profit is based on important level of liquidity. The 2nd take profit is based on -.272 fib level and the 3rd take profit is based on important level of liquidity that is in confluence with the -.618 fib level.
It is important to know that the market will be very sensitive with any important update about the debt ceiling.
Trade active
Note
The trade has reached the first target. I personally will not be holding any position over night or after NY afternoon before "X date". The market at this moment is been very sensitive. Any negative new about the dollar can make this trade trade play out different.Note
If nothing change we should see price finishing the move before reversing.Note
The price already reached the 2nd TP. We are only waiting for the price to reach the last TP.Trade closed: target reached
Wiiso
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