EURPLN trade ideas
EURPLN: Short opportunity within a 1D Rectangle.The pair has discontinued its uptrend (RSI = 61.957, MACD = 0.014, Highs/Lows = 0.0151) this week having been rejected near the 4.4000 1D Resistance. This creates ideal conditions for a reversal towards the 4.31460 1D Support, essentially aiming to trade within a Rectangle pattern. We are short on this formation with 4.33200 - 4.31460 as the Target Zone.
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EURPLN shortTrading these odd pairings can be tough but with the ECB set to destroy the value of the Euro further in about a week and the algo triggering a short signal, might be worth a small play.
Volume is starting to pick up, and momentum to the downside has plenty of room to run even if it's flattening out a bit today.
EURPLN just look at that wick. Reverse guranteed
Why to
* Nice reversal candle in 1D
* NO surprise that EUR is in almost recession.
* No surprise that East Europe and Poland is doing well
* Many technical indicators showing good opportunity.
* Very good R:R
Why not
* Politically Poland isnt the best friend with Europe union
* Same as always - Trade wars
EURPLNThose who took we were just short of the TP but a manual close was done before the pullback - s3.tradingview.com
Waiting to see what happens next watching the HIGH and LOW area label on the charts
EURPLNPerforming good keeping an eye on the highs will be looking for a break higher and TP being hit
EURPLN short 4HEntry - technical algo short signal
TP1 50% - 1ATR
TP2 25% - 1st RVGI cross
TP3 25% - 2nd RVGI cross
SL 1.5 ATR - trail after TP1
The market is thin, let's analyze the Polish Zloty!Today is a holiday in the United States – July 4th Independence Day and considering this the market is thin and calm.
We will analyze EUR/PLN
1DTF shows us a lot of consolidation, basically since about July of last year. We can observe a local dip down for the pair that started on May 22nd and this downtrend price reached May 2018 lows on July 1st.
Switching to the 4H TF shows me the following:
On July 1st I see a bullish engulfing, at which time Williams %R left the oversold zone. The following day, Jul 2nd, MACD lines intersected, a local correction to the upside followed on the 3rd and this morning we see an inverted hammer and bullish engulfing followed by the bulls breaking the 9EMA and local trend line to the upside.
A s a result : At this time Long positions look favorable, ideally after the break of 23.6 Fibo level – which is where the price is currently travelling, with target areas of 4.24830 (38.2Fibo) followed by 4.25170 (50% Fibo) .
EUR/PLN Short - Comparison with grain indexOut of the exhaustive list of price-influencing factors, one which seems to have credible correlation is the grain index & strength of PLN vs EUR. Based on recent increases in demand for grain one would lean towards shorting EUR.
Please note, the majority of the analysis charts I produce are experimental and should be viewed with scepticism & caution.
EUR/PLN Analysis My Original analysis was a short looking from the daily and smaller time-frames but after looking at the HTF's numerous times I now believe that is it a LONG.
The General trend on the HTF is Bulls, have also seen multiple reversal wicks whilst price moves sideways stuck in a range, as multiple pushes by sellers to push price beneath the support line become exasperated
Expecting a pull back to the original support area that price pushed up from as market makers seek liquidity
Wiping out all the early buyers, as we currently see price consolidating holding positions
After the pull back i expect price to push even higher than original and hit the previous nearest high although i wont be holding that long beyond my original TP. As I'm close enough to the 2:1 ratio already
Will wait and see how it plays out
easy buy lmfaowww.tradingview.com
I usually keep these a bit formal but this looks like a safe long position , HOWEVER , i could be wrong and it could completely tank *little chance of this happening tho* its respecting the trendline pretty well
EURPLN 8 RRR long on monthlyTrading Methodology:
1. An asymmetric bullish/bearish pennant is drawn using ascending and descending curved trend lines with a minimum of three price action touche points per line. The direction is determined by the previous trend.
2. The angle tool is applied from the earliest two trend touch points, beginning at the earliest touch point.
3. A trend-based Fibonacci retracement triangle is drawn starting from the earliest trend touch point and ending at the earliest touch point of the opposite trend line .
4. Based on the degree, of the earlier defined angle, the appropriate (and secret) levels are selected for the fibonacci retracement ; two levels for stop-loss and two levels for take-profit. The closest stop-loss level to the current price level is the top priority stop-loss. Though the secondary stop-loss level is often chosen for some markets such as FX and some equities in order to account for seldom unexpected resistance breaks. The greater target level is the top priority, and where majority of the shares are sold, though some may choose to close part of the position at the first target level or set it to be the stop-loss once price exceeds it. Entries should be laddered in around the levels closest of the yellow line.
This trading strategy can be applied to any market and time frame, and positions most often garner the greatest risk-to-reward ratio with the highest success rate. What more can you ask for? I will only be posting my unique trading strategy until EOY. I work solely with price action to identify pennants and apply unique trend-based fibonacci retracement levels for SL and TP levels. Reach out to me if you have any questions.
