EU W Bearish Idea 3/17/24
Updated
There is a chance that price could continue bullish from here, BUT I can NOT ignore the fact that there is a weekly head and shoulder possibly printing. Which will send price bearish for quite a bit.
On top of that, price has not really broken this area of price since 2021. This is a key level of price for EU. There has been 4 bearish engulfing candles in this area on the monthly, plus if you FIB the last bearish swing on the monthly price is at the 50% area of that FIB.
So I am setting alerts and watching price to see which way it wants to go.
On top of that, price has not really broken this area of price since 2021. This is a key level of price for EU. There has been 4 bearish engulfing candles in this area on the monthly, plus if you FIB the last bearish swing on the monthly price is at the 50% area of that FIB.
So I am setting alerts and watching price to see which way it wants to go.
Trade active
This head and shoulder is still playing out on the weekly. I finally caught the entry this week and am holding over the weekend. Caught a few losses as well trying to enter on the 5m, BUT that 4H entry has held since I got in it. Gotta love the higher timeframe entries!! 4H chart:
W chart:
Trade active
Price is pulling back, BUT that drop has been SWEET!! Held for 8 Days 2m with trailing on the 4H Trade active
Sell idea is still active and runningTrade active
This idea may probably be over at this time. Last week closed above the previous weekly highs. This current week will show if price will continue bearish or finally break bullish.Overall price is still bearish on the monthly and weekly, EU appears to be making a run to go bullish for a bit. Price has currently broken the Daily High from 4/8/24 BUT is bumping against a bearish weekly trendline.
Trade active
Idea still active in my opinion. Price is still bouncing off the weekly bearish trendlineTrade closed: target reached
Been over in the futures markets and just now getting back to FOREX. All targets would've been hit. Price has now broken structure bullish. Closing this idea.
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