hopiplaka1
Short

Turtle soup short on the EURUSD

FX:EURUSD   Euro Fx/U.S. Dollar
125 3 1
I probably short the EURUSD             around the 1.2545-1.2550 range, provided I see some kind of reversal pattern.

The institutional .50 level aligns with one the the SR lines of the 4H swing point. It is also the low of the 3th candle of the daily swing point.

Price is in the STD2 sell zone of the CBDR and it aligns with the OTE             zone, around the sweet spot.
We will clear the stops resting since the NY session of last Friday and Friday's asian session low should act as resistance.

When we reach this level, the DXY             should close the gap around the 86.90 level.

Take profit at the previous low around 1.2450 should be ideal for a 100 pip win. With a 30 pips stop loss this should be a nice r/r of > 3
fxwhitebelt
2 years ago
Really like this analysis, especially if it lines up with a retracement to the 86.80 level on the USDX which were the highs from 3rd and 4th of October.
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hopiplaka1 PRO fxwhitebelt
2 years ago
Monday cleaned last week's low, if we take an OTE from that low to yesterday's high, the 1.2500 came in right at the 62% retracement.
So if the EURUSD continues to go up from here, we'll probably have a NYO reversal profile when the "trade balance" news comes out.
So I will monitor the DXY and EURUSD around the 1.2545-50 to 1.2570 level for a short.


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hopiplaka1 PRO hopiplaka1
2 years ago
It looks like 1.2520 is the resistance, now OTE to go short after the news event.
DXY found support on 87.1 (resistance turned support) and is also forming an OTE.

Going short @ 1.2518 with a stop at 1.2540 would be a nice NYO reversal profile trade.
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