JosePips

Post-Analysis for EU short to the downside

Short
FX:EURUSD   Euro / U.S. Dollar
EU was showing clear, distinct signs of a reversal/short opportunity. I believe as a trader your strongest/most utilizing tool is a chart. This specific charts shows how the buyers are allowing the sellers to come in and fully rest the previous moves made by the buyers. In market conditions, especially a trend (buyer) in this case wouldn't allow the seller to bring price back 100% retracement with that type of momentum. An equal measured move by the sellers was anticipated to come into multi-month structure and 2018 lows around 1.19500 handle. The market tends to re-visit strong, important, significant levels of structure due to the fact that there was an emotional significance about that level when it was previously visited. In this case EU did make the move to the downside equating to about a 300 pip move. Next time I will be publishing the idea before-hand so others can take advantage of the high probable setups that are seen in the market by momentum and buyers & sellers.
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