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Eurusdsetup

EURUSD, 4hr tf, buy on retest of ascending trendlineHello my friends, Today i am gonna trade EURUSD. I am taking a buy position for this pair. As you can see, EURUSD respecting this ascending trendline from the beginning of Desember until now. As long as price above this trendline, we will only look to buy EURUSD on every dip. Notice also price above EMA-200 so, we could say EURUSD is bullish. I also marked potential horizontal support level with those yellow area. This area is an area where price open with a gap. Usually this kind of gap will turn into support or resistance. Buy EURUSD 1.2250 Stop loss 1.2215 Take profit 1.2470 (6.3R) RR Ratio 1 : 6.3 Use only 1-2% risk Good luck
Long
by HayatoDragonFX
EURUSD On the Verge of a 7% Elliott Wave DropThe chart above allows us to put EURUSD's entire progress since March 2020 low in Elliott Wave context. The impressive uptrend which took the currency price from below 1.06 to over 1.21 in nine months looks like a textbook impulse pattern. Its five waves are labeled (i)-(ii)-(iii)-(iv)-(v). Turbulent Months Ahead for EURUSD What should worry the bulls is that according to the Elliott Wave principle, a three-wave correction follows every impulse. Corrections usually erase all of the fifth wave’s gains. For EURUSD, this means a drop to the wave (iv) support area near 1.15 can be expected once wave (v) is over. If this analysis is correct, this might just be the worst possible time to be buying EURUSD for a long-term position trade. What's your view on EURUSD? Let me know in the comment. Thanks for reading, Veejahbee.
Short
by Veejahbee
10
EURUSD, 4hr tf, sell the trendline rejectionHello my friends, Next setup for next week is EURUSD pairs. I could see that price broken below the ascending trend line and retested it. It looks like that retest could be seen as a double top pattern as well. With this in mind i think a rotate to the lower side is possible so we will sell EURUSD. Sell EURUSD 1.1865 Stop loss 1.1905 Take profit 1.1745 (3R) RR Ratio 1 : 3 Use only 1-2% risk Good luck If you find this post useful, please give me a thumbs up and follow me for next updates. Disclaimer : I hold sell EURUSD position from Friday at 1.1875
Short
by HayatoDragonFX
EURUSD, 4hr tf, double top / bearish flag in playHello my friends, Today we are going to trade with EURUSD. As you can see price has been moving up respecting the ascending trendline for 1 week. Today price finally closed below it on a 4hr timeframe and it also looks like price making a small double top pattern. This could be a bearish reversal pattern so we are going to try selling EURUSD now. If you look at daily tf, you cold also see that previous daily candle close looks like a bearish pinbar or shooting star candle. Based on DXY as well, there is a potential DXY making a double bottom so we will try selling EURUSD as this pairs are mirrorring DXY movement. Sell EURUSD 1.1865 Stop loss 1.1905 Take profit 1.1705 (4R) RR Ratio 1 : 4 Use only 1-2% risk Good luck
Short
by HayatoDragonFX