In this chart I share the way I'm looking at the Euro before today's shock event. The 4h chart provides us with a more granular look at the price action, and helps identify the catalysts visibly on chart in the form of the callouts you see here. The current juncture is that of a 4h downtrend, as insinuated by Rgmov (not shown on screen), and by the price action and time at mode signals on chart. I will be covering this in a webinar I will be hosting, the link will be accesible for those who like this chart. I'll explain how the 4h and daily and weekly signals interact in the webinar.
For more information and insights into managing this position, scaling in, and understanding the logic behind the technical setups contact me via pm. I'm currently hosting a skype group, where I share trade setups and also provide traders with training, as well as 2 private webinars per week, and also giving tutoring via skype calls, on a one on one basis.
Hopefully people took this trade...I rushed to make the charts right on time, and prepare my webinar.
Nick_C_
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Looks like you had a great morning! Solid work
bilk29
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perfeckt
IvanLabrie
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Thanks, hopefully we get a good trade here.
GamalSyam
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nice work ..... what do you think about next week you recommend buy or sell ?
IvanLabrie
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Thanks.
Did you short here with me?
If you did, just move stop to break even, you could cover 50-75% of the position and monitor it.
There's still potential downside left, but there was also a record number of short positions in the large speculators in the Commitment of Traders data from last week.
Once these record shorts cover, we will see a short squeeze rally of epic proportions.
LearningForex
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Ivan the revised NFP shows lower numbers, shouldn't that change the scenario for EUR/USD
IvanLabrie
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Yes, it might make the reversal I was calling for.
I booked 75% and trailing the stop now.