EURUSD Short from resistance
Well, I'm thinking the reversal will finally happen after a really explosive move up for the EURO. Stochastic's been diverging for the past two days almost yet price just kept creeping higher, that was until yesterday afternoon. I placed my trade short but set my TP for 20 pips since I wasn't going to be monitoring my trade at all. I'm going to be looking for the best opportunity to get in on what should play out to be the retest of the downward channel on the Daily. I'm looking to go short to about that point and see what happens from there. Hopefully we see a good break to the top of the current consolidation zone on the 1hr. That will give a great entry to the reversal.
Note
The London open is so annoying sometimes, but it's usually the best time to get in for EURUSD, it just takes patience or else you'll get eaten alive by all the games these banks play SMH.Note
2:32 EST...price has reached the top of the upward channel for the hourly chart, looking now for either a break of structure or a sharp drop in price to confirm trend direction
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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.