Euro/Dollar-EUR/USD - Bearish Minute B - Short-Term SELL
Updated
Euro/Dollar-EUR/USD is about to complete the 1st Bullish Leg of our previously posted French Elections Trade.
We are looking at a temporarily weakness in the Euro/Dollar-EUR/USD as the ABC Minuette Retracement (red) for Minute B (green) is about to shoot towards 1.07500 Levels, which represent 50-61.8% Fibonacci Retracement (red fibs) of Minute A (green).
Withing Minute A (green), we are measuring Minuette (iii) (black) with a 161.8% Fibonacci Extensions of Minuette (i) & (ii) (black).
French Elections triggered our previously predicted Minuette (V) (black), which is unfolding as a Leading Diagonal (black trend-lines).
The Leading Diagonal would end with Sub-Minuette V (turquoise) and we will be watching out for a Bearish Divergence to be confirmed.
A Bearish Divergence can already be spotted and with one last push on the up-side it would confirm Decreasing Bullish Volumes V.S. Rising Trend.
Another good indication that Euro/Dollar-EUR/USD would complete Minute A (green) would be the 161.8% Fibonacci Extensions of Minuette (iii) & (iv) (black) for the end of Minuette (v) (black).
Sub-Minuette Fibonacci Extensions measurements of iii & iv (turquoise) are also pointing towards the 1.09800 Levels.
Long-Term wise, are are looking at a Market Shift and a Rebound in the Dollar Index (DXY), therefore, we would be very interested in looking for a Long-Term SELL Set-up for the Euro/Dollar-EUR/USD later on, when the current Major Consolidation will be over.
The Levels in focus for the Long-Term SELL Trade would be around 1.11000 Levels, where the Major Resistance Trend-Line (black) is located and could trigger the continuation of the Final Bearish Long-Term Wave for the Euro/Dollar-EUR/USD.
Euro/Dollar-EUR/USD - Short-Term SELL Positions:
Entry Level - 1.09800
Alternate Entry Levels - 1.09600 & 1.10000
SL - 1.10600 & 1.11000
TP - 1.08200 & 1.07450
* Safety Measures:
- when in the green, move SL to break-even or in profit
- watch for confirmation of Bearish Divergence
- if sudden Bearish Breach of Leading Diagonal Trend-line, watch for Flag Formations for Entry Confirmation
- if very conservative, only enter at Bearish Breach confirmation
We are looking at a temporarily weakness in the Euro/Dollar-EUR/USD as the ABC Minuette Retracement (red) for Minute B (green) is about to shoot towards 1.07500 Levels, which represent 50-61.8% Fibonacci Retracement (red fibs) of Minute A (green).
Withing Minute A (green), we are measuring Minuette (iii) (black) with a 161.8% Fibonacci Extensions of Minuette (i) & (ii) (black).
French Elections triggered our previously predicted Minuette (V) (black), which is unfolding as a Leading Diagonal (black trend-lines).
The Leading Diagonal would end with Sub-Minuette V (turquoise) and we will be watching out for a Bearish Divergence to be confirmed.
A Bearish Divergence can already be spotted and with one last push on the up-side it would confirm Decreasing Bullish Volumes V.S. Rising Trend.
Another good indication that Euro/Dollar-EUR/USD would complete Minute A (green) would be the 161.8% Fibonacci Extensions of Minuette (iii) & (iv) (black) for the end of Minuette (v) (black).
Sub-Minuette Fibonacci Extensions measurements of iii & iv (turquoise) are also pointing towards the 1.09800 Levels.
Long-Term wise, are are looking at a Market Shift and a Rebound in the Dollar Index (DXY), therefore, we would be very interested in looking for a Long-Term SELL Set-up for the Euro/Dollar-EUR/USD later on, when the current Major Consolidation will be over.
The Levels in focus for the Long-Term SELL Trade would be around 1.11000 Levels, where the Major Resistance Trend-Line (black) is located and could trigger the continuation of the Final Bearish Long-Term Wave for the Euro/Dollar-EUR/USD.
Euro/Dollar-EUR/USD - Short-Term SELL Positions:
Entry Level - 1.09800
Alternate Entry Levels - 1.09600 & 1.10000
SL - 1.10600 & 1.11000
TP - 1.08200 & 1.07450
* Safety Measures:
- when in the green, move SL to break-even or in profit
- watch for confirmation of Bearish Divergence
- if sudden Bearish Breach of Leading Diagonal Trend-line, watch for Flag Formations for Entry Confirmation
- if very conservative, only enter at Bearish Breach confirmation
Note
Reviewed with:Note
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.