EURUSD: What a gorgeous distribution structure
Updated
Summary:
What's up traders?
Here I provide a
EURUSD analysis based on my knowledge about Dow Theory.
Charles Henry Dow is one of the most influencing technical analysis at current era. He believed that "History repeat itself" (of course I do believe it too!) and as we can see that the flatten and bending price formation is a pretty obvious sign of the distribution phase and will likely start the panic selling phase that will push the price lower until it meet the support area that I believe is strong at 1.1365 area. That means we have plenty of space to act and this plan can be used for intraday or swing traders. The link to related ideas provided below, check it out!
"you'll only miss 100% shots you never take" - Wayne Gretzky
Disclaimer: All of the information that provided is based on sources that we believe to be reliable, but they have no guarantees. Therefore, every effort is made to ensure that the content is accurate and complete. I have a very strict money management calculation and usually I trade with (max.) 5% risk per pair to ensure sustainability and equity endurance to make money in the futures market for a long-term period. Any profits or losses that occurred based on this analysis is your own responsibilities as a trader or an investor.
- a. EURUSD is entering distribution phase
- b. Go short when the price already break and retest the support area at 1.1755
- c. Aggressive setup wait for price confirmation at the purple rectangle area 1.1790-1.1830
What's up traders?
Here I provide a
EURUSD analysis based on my knowledge about Dow Theory.Charles Henry Dow is one of the most influencing technical analysis at current era. He believed that "History repeat itself" (of course I do believe it too!) and as we can see that the flatten and bending price formation is a pretty obvious sign of the distribution phase and will likely start the panic selling phase that will push the price lower until it meet the support area that I believe is strong at 1.1365 area. That means we have plenty of space to act and this plan can be used for intraday or swing traders. The link to related ideas provided below, check it out!
"you'll only miss 100% shots you never take" - Wayne Gretzky
Disclaimer: All of the information that provided is based on sources that we believe to be reliable, but they have no guarantees. Therefore, every effort is made to ensure that the content is accurate and complete. I have a very strict money management calculation and usually I trade with (max.) 5% risk per pair to ensure sustainability and equity endurance to make money in the futures market for a long-term period. Any profits or losses that occurred based on this analysis is your own responsibilities as a trader or an investor.
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