Since April 2018, EUR/USD has been in a down trend, with lower lows, and lower highs. The reason why the title says "High probability" is because I see similarity between what happened with EU from the beginning of June 2019 - end of juli 2019. This "coincidence", in addition to the over one and a half year declining trend, makes me comfortable with executing this position shortly. I will be waiting for confirmation before going short. What i will be looking for in terms of a confirmation is: A. Strong resistance from 200MA (purple line) on the Daily chart. B. fast EMA (green line close to price) crossing the slow EMA (red line close to price) downwards. C.Bearish volume.
PS: The short RR on my chart is visualisation for my prediction ONLY, and is not ment to be applied as a trading-plan.
I will be commenting on this idea when time is right.
PS: The short RR on my chart is visualisation for my prediction ONLY, and is not ment to be applied as a trading-plan.
I will be commenting on this idea when time is right.
Trade active:
Could see big moves first week of 2020.