EURUSD - Are We Finally Breaking Out Of The Upwards Trend?
Analysis:
Bearish Confluences
Bullish Confluences
Stay Safe - The JPI Team
Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We appreciate any comments at all so thank you!
Disclaimer:
This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Bearish Confluences
- In a strong downwards trend
- Recently broke below major support
- Retesting a previous key level
- 50% fib retracement level touched
- In a descending channel
- Retesting a strong downwards trendline
- 8K short position increase for the EUR
- 4K long position increase for the USD
Bullish Confluences
- EUR is the strongest major currency whereas the USD is the 3rd strongest major currency
- 7K long position increase for the EUR
- 4K short position increase for the USD
- Recent news for the USD has been bearish
Stay Safe - The JPI Team
Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We appreciate any comments at all so thank you!
Disclaimer:
This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Trade active:
Our entry criteria has been met and our order has been filled. We are short looking for some USD strength to step back in and push price to the downside, breaking this longer term upwards trend that we're in.
Trade closed: target reached:
Trade Closed
(+1.61R) Made
After Trade Comments:
When we first entered into this trade things weren't looking great and we almost got stopped out. However we had some USD strength step into the markets and ultimately we saw price make a move to the downside, eventually hitting our take profit. As we've said before this just shows the importance of trusting your strategy. If you've done everything to plan, then let that trade play out. Don't close a trade early just because it's not started well or because it's close to your take profit. Leave your trades alone. You set your take profit and stop loss where you did for a reason so why change it? It doesn't matter about what happens whilst you're in a trade. All that matters is the result. Let your edge playout and leave your trades alone. You'll either be wrong or right but if you exit early then you could close out of a trade with a loss that would of ended in profit. Once you start messing around with your plan you start to change your edge. Follow your plan exactly and you'll get the same results as your backtesting. With that being said, let's see what other opportunities there are in the markets.
Stay Safe - The JPI Team
(+1.61R) Made
After Trade Comments:
When we first entered into this trade things weren't looking great and we almost got stopped out. However we had some USD strength step into the markets and ultimately we saw price make a move to the downside, eventually hitting our take profit. As we've said before this just shows the importance of trusting your strategy. If you've done everything to plan, then let that trade play out. Don't close a trade early just because it's not started well or because it's close to your take profit. Leave your trades alone. You set your take profit and stop loss where you did for a reason so why change it? It doesn't matter about what happens whilst you're in a trade. All that matters is the result. Let your edge playout and leave your trades alone. You'll either be wrong or right but if you exit early then you could close out of a trade with a loss that would of ended in profit. Once you start messing around with your plan you start to change your edge. Follow your plan exactly and you'll get the same results as your backtesting. With that being said, let's see what other opportunities there are in the markets.
Stay Safe - The JPI Team