Time To Bail? Distribution Megaphone At Top Of ChannelEuro is at top of a number of downward channel trend lines and is printing a megaphone pattern. This looks like distribution as the larger traders dump positions into the order book and widen its range.
Selling from the top of the day here could be a very good swing position short. I also have a short bias intraday.
FCEU1! trade ideas
Euro This is starting to come up on targets. (first target) the second target comes iin much lower. Were trend traders so were shorting rallies at key levels until it doesnt work anymore..but usually at targets you get a bigger bounce that fools people into thinking a serious low is in. SO were watching key levels on any bounces and we will short them again until it just doesnt work anymore
6E analysis6E has completed a >50% correction from its previous swing low and one would expect a impulsive wave to the upside to follow this corrective wave. Entry will be on the 4 hourly chart, when the EMA's and the MACD have turned bullish, and then retests a previous resistance turned support level. Always be buying below the market.