EURUSD - Short ( full description) Welcome to The EgoMist Financial Experts!
-EURUSD- Short-
-Fundamentals-
Due to political situation and virus boom it became very hard to analyze the USA and Europe Market!
In one hand we have fact that USA doesn't want strong USD since they will lack from Exports.
In other hand EU doesn't have stable economy in some countries, i don't want to point at Italy , but it's a fact! Some countries in that Union pulls EURO down.
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-Technical Analysis-
We stuck in triangle caused by:
1- Major Bullish Trend Line with more than 4 hits already
2- Local Bearish Trend Line has been FALSE-BROKEN which points at BEARISH power!
-That's why we set our SELL LIMIT orders:
1- Short-Area #1 - at the Local Bearish Trend Line
2- Short-Area #2 - at the Monthly Range
With Logical Take Profits at Supply-Demand Zone and Local Liquidity Points!
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-Indicators-
EgoMist Divergence:
1- Points for Sellers Power - RSI hardly go above 50 levels zone and we have lot's of Bearish divergences
2- At the Fake Break-Out we will see a good divergence ( Price Structure already points at it and formed best conditions)
EgoMist ATR
1- Above the Price we have Monthly and Weekly Zone which represent strong resistance
2- Our next Weekly Zone will be lower than previous one!
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Conclusion:
1- We have already opened few short with small lots since current Risk is High and Stop Loss is Huge
2- We set a 2 SELL LIMIT orders above with amazing RR
3- We will HEDGE our trade with some scalp LONGs if price set a prober pre-break-out structure
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