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EU

EUR/USD - Downside Continuation!! - Price is currently getting squeezed between my moving averages. - Top side trend was respected and fell from that level - Trend line plotted from lows also shows a break in trend. - Price formed a head and shoulders pattern that broke out to the downside today. - Price has retraced back into the 50 - 61.8% retracement level of todays range. - Looking for the large wicks at the on the recent 4H candles to get filled to start the momentum to the downside.
Short
by TheCaffeinatedTrader
1
Selling Eur/Usd - Target @ 1.195- The trend line is the monthly downtrend that was broken at the end of July, 2020. Price moved nearly 750 pips from that point. - Price reached the monthly resistance and has since corrected back from that zone. - Moving averages have crossed signalling trend change. - Price has created a new lower high last week and a new low earlier this week also signalling trend change. - Price has retraced back to retest the previous lows at the 50% - 61.8% retracement zone, which also had significant reactions twice back in December. - The retest is also testing the neckline of a sloppy head and shoulders pattern that did break out for a nice leg down. - Target will be in the 50% - 61.8% retracement zone from the leg up off the monthly trend line break to the monthly resistance zone.
Short
by TheCaffeinatedTrader
2
EU Smart Money/Fibonacci SetupThe 4H Chart shows a double bottom that took a crap ton of liquidity with a strong sell. That's the POI (Point of Interest) I have marked. I'm also using it as my tp, or where ill take partials. As the chart shows, the 88.6 lines up perfectly with the sniper, or where there was a failed retest of the engulfed candle (SNIPER). I presume price will make its way down there next week. maybe get there Friday before or when the market closes, but it's a move I'm definitely looking to take. @MonaySess
Long
by Jae2k