After the euro news was released we do not have a real optimistic view. Things are what they where. Nothing new. We will have to wait for the rest of the euro news today before "maybe" see something change. I expect we will continue to trade inside the box seeing EURUSD under pressure, also with small reversal push ups.
Today I share this little trade setup for eurusd. It is based on different observations, indicators and retracements. This is not trade advice.
As expected we're moving inside of this big box. At last we've tested the first blue line as expected but did not broke above. This is initially a trigger to go long. But.... time is running and at this time while the euro is still in a good position to go up I have also to say that it took too long before we saw the first test of the blue line. In my opinion the...
I've spotted this bullish bat pattern on the 30M which tells me that the euro is preparing to rebounce after this correction down and I think the blue line up there will be broken. Looking to the potential of this pattern I can say that there is space here for the price to move but I should not enter a trade now if you look to go long or short. On the Daily...
If price hit the lower side of this box.... then we move to the next phase.
Not a big profit here ;=) I do not recommend to trade this but still fun to see if it will work out
This is just my analyse for today and until friday Price is struggling in this zone to go higher or just break down. Actually I see this: If price break the blue/teal trend line upward, euro will need to break also above the green box and hold above it to have a chance to go higher. Looking to the indicators there is a chance to see the price retrace down...
As I predicted we the price hit inside of the box. It may possibly continue to hit the top of the box or pin above. The price can also change direction from here. Anyway I think that this euphory will end soon. And the price will probably go down to hit inside of the lower red box before the next rise.
I've found this pattern this evening. I do not think this is a very interesting trade. It tells only that the eurusd will retrace "maybe" to the 618 retracement or a little more.
Hesitation today brings up this little short trade
I saw this opportunity. I had a bearish ABCD pattern on 1H wich is almost complete. If not then it should be complete quickly. A bit depending from one chart to another. On the weekly I have a valid bullish ABCD pattern. Of course I will trade a dangerous reversal while this market is bearish since a long time but the risk/reward is very good. I have also some...