dojitrader
Short

Through The Fog Some Clarity ???

FX:EURUSD   Euro Fx/U.S. Dollar
79 3 0
This idea came from trying to make sense of all the "noise" this pair has
produced within the rising channel.
What I like about this set up is A = C and it is contained within
the channel like corrective price is commonly found.
Selling the top of the channel is my thought for the best
point of entry and, even though this is a line chart, I'll be
watching the candlesticks for guidance.
Several options for stops and I've listed two possibles.
The line in the sand is around resistance @ 1.3580
Much above that and the Euro             is headed higher.
Of course, the 800 pound Gorilla in all of this is the NFP
on Friday. Entry or re entry might have to wait until afterwards
so that spikes won't dump on a profitable trade.
dojitrader
2 years ago
This is the preposterous mess that started the whole idea of where to sell the Euro.
And, fine some quiet among the noise.
snapshot

The entry is a little higher since it takes into consideration
the highs and lows, not just the close.
But, the same line in the sand applies.
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dojitrader
2 years ago
Just realized there is also a 400 pound Gorilla tomorrow
--- the ECB. Maybe I should just hide in the root cellar until
next week ~~~~~
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dojitrader
2 years ago
As mentioned, the 400 pound Gorilla has made the root cellar look pretty good.
Clarity was not worth a damn and the broken line in the sand has probably changed everything.
Maybe we should have seen this coming as too many traders were looking for
a place to short !
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