EUR.USD dipping Exactly as planned: EU short Targets plotted
Quick update to my previous "Hunt of Shorts" Idea (click).
EU bounce exactly up in our Ideal Shorts zone (see above link).
The rejection is clear but is not clear if only from profit taking.
Reactions at the various zones will help gauge retrace strength.
1.10746/753 will hopefully act as resistance now, we are right up to it.
1.10887/924 should be strong resistance now, Stop Losses just above.
1.11082/127 should not be broken, otherwise this is going Bull again.
1.10633/651 is first support, expect a bounce of some sort.
1.10540/559 is first strong support, expect a strong bounce.
1.10391/407 could end the retrace and return to uptrend.
Previous EUR.USD analysis (click):
1.108 short call
1.102 Long call
1.116 Top Call
EUR.USD short call
EUR.USD bounce plot (found last bottom)
EUR.USD short call (in time, to the Pip)
EUR.USD long call (scalp that ran hard)
EUR.USD short Call (perfect top, huge profits)
EUR.USD trend Short (the exact top a year ago)
Of course, I have had total FAILS on some plots also, not going to pretend.
But my plans offer PRECISE entries, TIGHT stops, and EXACT take profits.
Precision is the way of the Fib. Almost every turn happens at a Fib Line.
EU bounce exactly up in our Ideal Shorts zone (see above link).
The rejection is clear but is not clear if only from profit taking.
Reactions at the various zones will help gauge retrace strength.
1.10746/753 will hopefully act as resistance now, we are right up to it.
1.10887/924 should be strong resistance now, Stop Losses just above.
1.11082/127 should not be broken, otherwise this is going Bull again.
1.10633/651 is first support, expect a bounce of some sort.
1.10540/559 is first strong support, expect a strong bounce.
1.10391/407 could end the retrace and return to uptrend.
Previous EUR.USD analysis (click):
1.108 short call
1.102 Long call
1.116 Top Call
EUR.USD short call
EUR.USD bounce plot (found last bottom)
EUR.USD short call (in time, to the Pip)
EUR.USD long call (scalp that ran hard)
EUR.USD short Call (perfect top, huge profits)
EUR.USD trend Short (the exact top a year ago)
Of course, I have had total FAILS on some plots also, not going to pretend.
But my plans offer PRECISE entries, TIGHT stops, and EXACT take profits.
Precision is the way of the Fib. Almost every turn happens at a Fib Line.
Comment:
Have closed 50% of the position for 24 pips profit, and move Stop Loss to 10 pip profit.
So worst case is 34 pips profit (although accounting for 50/50 makes it more like 28 pips profit) .
Not bad for a couple of hours, NO stress, NO drawdown, love trades like this.
Just gotta be careful not to get cocky after such a trade, next one could easily give a loss.
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Not bad for a couple of hours, NO stress, NO drawdown, love trades like this.
Just gotta be careful not to get cocky after such a trade, next one could easily give a loss.
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Comment:
London Open brings the drop.
EU should "notice" 1.1055 on the way down, but I think 1.104 is fated
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EU should "notice" 1.1055 on the way down, but I think 1.104 is fated
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Comment:
So we got a pretty Strong Bounce where it was "expected"
Now to see if the expected Resistance does its job ...
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Comment:
Forgot to update this on Friday, was busy with trade management.
Target was hit precisely, have closed 80% of my short position, have NOT gone long yet.
The remaining 20% short is with SL at Break Even. This could easily keep doing down, so will risk some of my profits to take a shot at continuation.
Target was hit precisely, have closed 80% of my short position, have NOT gone long yet.
The remaining 20% short is with SL at Break Even. This could easily keep doing down, so will risk some of my profits to take a shot at continuation.
Comment:
Looks to be getting trapped below the support zone
Zoomed in, there is an exact rejection by the red 6.618
Currently in Asia session, so not much volume to judge these moves with.
But, an exact reflection like that is often the start of a move in that direction.
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Zoomed in, there is an exact rejection by the red 6.618
But, an exact reflection like that is often the start of a move in that direction.
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the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
the Trading View is my Nation
the Moderator Tag is my Flag
Zoomed in, it looks like the Red fib is still calling the shots
Now need to see if this bounce poses to threat to shorts.
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