Short

EUR/USD

Updated

I am bearish on this pairing as it appears we have completed the daily and possibly the weekly correction. That being said there is still an upside potential in the short term.
This could be a big short to the daily TL (green) and a break of that we could see Euro at or below par.

Note

Price action broke the 1 hr trend-line and is pulling back. Look for bull signal to take long.

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Solid break and close on the 4 hr. Now watch the retracement. I would not be confident in this short until I see a correction below the trend line.
A steep retracement indicates possible move back up

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Be careful on this one the retracement does not have a good look will wait to enter until I see more of a orderly gradual pull back. It is better to miss a trade than get in a bad one.

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Apparently I was overly cautious. I would rather have an empty suite than a bad tenant.
Moving forward I am expecting a HTF correction but we may have some more to go on this push.

Please note my arrows are not intended for exact time and distance rather a guide to possible price action and trade points. The distance is much easier to judge than the time aspect.

I made my money by selling too soon. Bernard Baruch ( great American financier)

Note

There was no break down so a larger correction is in the making.
It is indicating more down so a strong break of the trend line down and I will add to my position.
A break up across the blue trend line will indicate more correction.

Trade closed: target reached

nahidik

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by nahidik

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