Hello,
Next week I will be looking to short EUR/USD on a potential pullback to the recent resistance.
The trend looks strong. The last leg went way further than the previous one but not that smoothly. However, I will be aiming for quick targets rather than
trend continuation trade.
There are 2 points of concern for me: 1) Even though the trend looks strong it is slowing down. 2) The last pullback came in quite deep as well.
For the time being I will be looking for targets around the recent low, once I get in because it may start ranging (taking into consideration how deep the flow is) before it keeps going down or turns around.
Will see if we can get a pullback now or later.
Good luck.
Next week I will be looking to short EUR/USD on a potential pullback to the recent resistance.
The trend looks strong. The last leg went way further than the previous one but not that smoothly. However, I will be aiming for quick targets rather than
trend continuation trade.
There are 2 points of concern for me: 1) Even though the trend looks strong it is slowing down. 2) The last pullback came in quite deep as well.
For the time being I will be looking for targets around the recent low, once I get in because it may start ranging (taking into consideration how deep the flow is) before it keeps going down or turns around.
Will see if we can get a pullback now or later.
Good luck.
Comment:
The H4 momentum starts slowing down. Sellers are showing signs of struggling making this not a good opportunity for a lower time frame. It barely makes a new low with a lot of effort. Still waiting for a pullback.
Comment:
Price is now reacting from this recent H4 resistance which does not look good for a sell. However, since this is a Daily/H4 trade and I now able to see the sell on the H4 is trying to dominate but not convincingly enough. I will wait to see another attempt to go up and based on that I will decide to enter or not.
Comment:
Missed this one. Didn't get the test of the price I wanted.