Are We Ready To Resume Selling the EURUSD...?
Updated
From last week, we saw prices rally all the way up towards the daily zone. This rally was seen as a retracement because, according to our analysis, we had come to see this pair to be in a down trend.
With the price entering the zone,we expected an immediate reversal. The market showed some signs of reversal, after which we saw prices go all the way up to spike above our zone. Were we stopped out of the sell position? Of course, YES. But has the trend switched bullish with that move? Hell NO!
For the main reason that the daily candle did not close above our zone, we would define that push through the zone as just a spike, and when we say spike, we mean that our bearish perspective on the daily is still valid.
With that out of the way, we will now look at the 4-hour perspective. On the 4-hour chart, the price is in an uptrend. The uptrend is what brought prices all the way up into our daily reversal zone. And so we would expect the 4-hour bias to switch very soon to reflect the bearish reversal we are already seeing.
How about the 1-hour chart?
In the 1-hour, we have already begun to see some good bearish reversals. Yesterday, we got into a trade, that ran about a 1:3 Risk Reward Ratio before it u turned bullish. To be honest, that trade was take as a second resort. This is because we had refined our reversal zone to a much small area, and the market reversed yesterday without getting into the smaller refined zone. Are we suprised the 1st trade failed and the market began to rally again short term? Of course not. All along, our target had been for the market to come into the refined zone.
Right now, to our greatest excitement and earnest expectation, we have seen the price rally into our refined zone, and so we are hands-on ready to catch the trade on this pair.
Are we gonna jump in right away? By no means NO. The price coming into the zone is just one of several steps we follow to catch our trade using the panzy pips trading methodology.
So guys, there you are with the EURUSD. We are finally in our zone, and we expect to see a good deal of reversal from this point. And when that reversal comes, we will be going bearish all the way towards our daily target way below.
With the price entering the zone,we expected an immediate reversal. The market showed some signs of reversal, after which we saw prices go all the way up to spike above our zone. Were we stopped out of the sell position? Of course, YES. But has the trend switched bullish with that move? Hell NO!
For the main reason that the daily candle did not close above our zone, we would define that push through the zone as just a spike, and when we say spike, we mean that our bearish perspective on the daily is still valid.
With that out of the way, we will now look at the 4-hour perspective. On the 4-hour chart, the price is in an uptrend. The uptrend is what brought prices all the way up into our daily reversal zone. And so we would expect the 4-hour bias to switch very soon to reflect the bearish reversal we are already seeing.
How about the 1-hour chart?
In the 1-hour, we have already begun to see some good bearish reversals. Yesterday, we got into a trade, that ran about a 1:3 Risk Reward Ratio before it u turned bullish. To be honest, that trade was take as a second resort. This is because we had refined our reversal zone to a much small area, and the market reversed yesterday without getting into the smaller refined zone. Are we suprised the 1st trade failed and the market began to rally again short term? Of course not. All along, our target had been for the market to come into the refined zone.
Right now, to our greatest excitement and earnest expectation, we have seen the price rally into our refined zone, and so we are hands-on ready to catch the trade on this pair.
Are we gonna jump in right away? By no means NO. The price coming into the zone is just one of several steps we follow to catch our trade using the panzy pips trading methodology.
So guys, there you are with the EURUSD. We are finally in our zone, and we expect to see a good deal of reversal from this point. And when that reversal comes, we will be going bearish all the way towards our daily target way below.
Trade closed: stop reached
As we had discussed earlier, the market a chance of going either bearish or bullish. This time, the market went against our hour plan, and rather in the direction of the 4 hour timeframe analysis.
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