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RaynLim
Jul 2, 2023 2:45 PM

Shorting Opportunity Long

Euro Fx/U.S. DollarFXCM

Description

🔍📊 Current Market Overview:
I'm closely monitoring the EURUSD pair for a potential shorting opportunity on the higher timeframe. However, at the moment, two buying opportunities have emerged, which deserve our attention. Let's dive into the details:

🦋 Bullish Butterfly Pattern:
On the daily chart, we have identified a Bullish Butterfly Pattern with completion anticipated at 1.0355. This pattern suggests a potential buying opportunity, indicating a reversal in the price action. It's crucial to keep a close eye on the price as it approaches this level.

🦈 Bullish Shark Pattern:
Another interesting development is the Bullish Shark Pattern observed on the 4-hourly chart. This pattern is expected to complete around 1.0764, signalling a potential buying opportunity. However, it's important to remember that these patterns occur in the context of a counter-trend trading strategy.

💼 Trading Strategy:
Given the absence of a clear shorting opportunity, I will adopt a conservative approach and focus on the identified buying opportunities. I will set conservative targets for these trades while remaining vigilant for a suitable shorting opportunity to align with my overall strategy.
Comments
MEHDI118
thanks a lot my friend 👍🏻
You have entered the subject title "Buy".
But the analysis shows a decline and sell
RaynLim
@MEHDI118, thanks for highlighting that. i've explain that on my video analysis but we are counter-trending this pair, i prefer to sell on this, but no opportunity at this moment. On this writeup, in the first sentence I've explain that too
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