Hey guys,
Hope you're all well, it's time to do a quick chat here. Last week the EU short play was shared for a nice +2.4%, but at the start of the week price moved lower, and I'll share a lesson here for you guys why it happened.
The Dollar is moving from that weekly trendline right, and we saw a clean weekly star formation close last week confirming more upside for the Dollar. Well, three things can happen after a star formation;
1: Price instantly moves up creating a new engulfing (High Probability)
2: Price goes lower to fill up the doji type candle in the middle of the evening or morning star (High Probability)
3: Star fails and it tanks (Low Probability)
So now you know the secret, if price falls the 2nd or 3rd option will happen. Well, another secret, with option two price will create a lower timeframe higher low (if bullish other wise lower high) this higher low in this case will always be at the .75 or .618 retracement.
Go to the daily, and see what is happening right now, the odds towards point 2 increased exponentially and therefor I think we see more upside for the dollar, until proven otherwise.
Weekly Star from demand + Trendline = Check timeframe lower
Daily a bit corrective so probability is high for a decline or we need a higher low, well price is probably closing bullish today
confirming a higher low.
& the beauty is, I don't care if it is a win or loss here based on %. Because I know the edge is here and that's a win already.
Hope you're all well, it's time to do a quick chat here. Last week the EU short play was shared for a nice +2.4%, but at the start of the week price moved lower, and I'll share a lesson here for you guys why it happened.
The Dollar is moving from that weekly trendline right, and we saw a clean weekly star formation close last week confirming more upside for the Dollar. Well, three things can happen after a star formation;
1: Price instantly moves up creating a new engulfing (High Probability)
2: Price goes lower to fill up the doji type candle in the middle of the evening or morning star (High Probability)
3: Star fails and it tanks (Low Probability)
So now you know the secret, if price falls the 2nd or 3rd option will happen. Well, another secret, with option two price will create a lower timeframe higher low (if bullish other wise lower high) this higher low in this case will always be at the .75 or .618 retracement.
Go to the daily, and see what is happening right now, the odds towards point 2 increased exponentially and therefor I think we see more upside for the dollar, until proven otherwise.
Weekly Star from demand + Trendline = Check timeframe lower
Daily a bit corrective so probability is high for a decline or we need a higher low, well price is probably closing bullish today
confirming a higher low.
& the beauty is, I don't care if it is a win or loss here based on %. Because I know the edge is here and that's a win already.