Hey traders,
Hope everyone is doing well in these volatile markets... I Just uploaded the weekly watch list in the community and I was thinking why not share the EU perspective on trading view.
The overall Dollar play to the upside was something I was expecting for a while but I was wrong, for now. So most calls here are just institutional zones based instead of the world based on the fundamentals etc. However the Dollar play wasn't, it was purely a macro play and I learned from it.
Currently, if we check the technicals of the Dollar, we're currently decelerating on top on a long-term trendline, both clear on the monthly and weekly chart. The EU is doing the same thing and therefore I am writing this message to all of you.
EUR/USD is sitting at a key area of supply combined with the higher timeframe trendline, the 4hour chart is creating a beautiful 4hour head and shoulder pattern and should see a decline tomorrow for the area of the right shoulder. If I am right, price breaks lower and breaks the 1.123 area to confirm the trade, if the re-test occurs I will look for shorts.
So a bit of patience, we need to see the bearish price-action to occur first.
Main take away, never be biased but always be patient. ;)
Hope everyone is doing well in these volatile markets... I Just uploaded the weekly watch list in the community and I was thinking why not share the EU perspective on trading view.
The overall Dollar play to the upside was something I was expecting for a while but I was wrong, for now. So most calls here are just institutional zones based instead of the world based on the fundamentals etc. However the Dollar play wasn't, it was purely a macro play and I learned from it.
Currently, if we check the technicals of the Dollar, we're currently decelerating on top on a long-term trendline, both clear on the monthly and weekly chart. The EU is doing the same thing and therefore I am writing this message to all of you.
EUR/USD is sitting at a key area of supply combined with the higher timeframe trendline, the 4hour chart is creating a beautiful 4hour head and shoulder pattern and should see a decline tomorrow for the area of the right shoulder. If I am right, price breaks lower and breaks the 1.123 area to confirm the trade, if the re-test occurs I will look for shorts.
So a bit of patience, we need to see the bearish price-action to occur first.
Main take away, never be biased but always be patient. ;)
Trade active:
Trade Entry was provided on IG, to help you guys catch some this month. Hope you're all well.
The target for this trade is @ 1.11631 for +2.5% return (1% risk per trade)
SL can be moved to 1.12992 to lock in some profits.
Hope you liked it. Make sure to check out our new website btw.
The target for this trade is @ 1.11631 for +2.5% return (1% risk per trade)
SL can be moved to 1.12992 to lock in some profits.
Hope you liked it. Make sure to check out our new website btw.
Trade closed: target reached:
Manually closed for fun coupon Friday around the +2.40% mark (+170pips)