EURUSD: Time to go short

FX:EURUSD   Euro / U.S. Dollar
286 15 10
In this chart I describe my forecast for the coming month.
I expect a retracement first, but it's possible to see a steep decline initially.
If we do have a retracement to the 50% level, that's a great entry, so don't hesitate on taking it.
I'll look into scaling in, for the time being leaving a sell stop under the current low, same stop, above the invalidation level, at 1.1342.
After these two positions are open, and filled, if price moves 1 ATR in our favor, we can cover half and/or move stops to BE to free up margin for scaling in some more in the future.
Target is initially at 1.078, but there's a possibility of extending all the way down to a loftier target: 1.00974.
Good luck!
Trade closed: target reached
Cancelled pendings, waiting for news.
IvanLabrie PRO IvanLabrie
Target reached and exceeded and now we have a correction, we can take a short term long trade as follows:


TP half at the high, let the other ride with a break even stop, it can hit 1.12 or higher.
+1 Reply
IvanLabrie PRO IvanLabrie
High wasn't retested, it probably won't, so better get out in profit in my view.
CoreyInvesFB IvanLabrie
Ivan a fall to 1.02 sound possible to you over the next few weeks?
IvanLabrie PRO CoreyInvesFB
See my latest EURUSD idea, it's under related ideas here.


Extreme targets have been both reached, first one exceeded, and now on the way to hit the second one.
It's possible we see a retracement to one of the light red or black levels before continuing further down though.
I'll wait for said retracement to get in for the time being, unless there's a convincing setup on the daily chart.
IvanLabrie PRO IvanLabrie
Daily view:

Good time to scale in:

so it dived faster than i expected, but still break that 1993 horizontal support!!
as new price data comes in, i fine tune my falling edge accordingly until price action changes again
IvanLabrie PRO jangseohee
Not sure about a wedge.
I'm sure we will hit 1.09-07 soon before any significant retrace.
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