Marenno
Short

EURUSD Weekly review, as a plan for a begining of the week.

FX:EURUSD   Euro Fx/U.S. Dollar
Price direction on a Quarter chart is down, as new lower low and lower high appeared (Price direction is not the same as a trend direction)
Last Quarter's close is below 5MA what gives a bit more power to bearish signals
We have a bearish chart pattern (Quarter)

Price is currently at 61.8% Fibonacci retracement area
in a relation to Previous swing UP
Will look for a bearish long-term entry setup (based on Quarter chart, using lower leverage and wider stops, this type of trade will be left open for up to a quarter) at around 1.1025

On a weekly chart we have a bearish chart pattern

Price is currently at 23.6% Fibonacci retracement area (Filtered to weekly timeframe )
in a relation to previous swing Down
Will look for a bearish short term entry setup (based on weekly chart, this type of trade will be left open for a few days) at around 1.1025

On a 1D chart we have a bearish chart pattern

Price is currently at 76.4% Fibonacci retracement area (Filtered to 1D timeframe)
in a relation to Previous swing UP
Will look for a bearish short term entry setup (based on 1D chart, trade will be left for Hours, but position will be closed in parts and using a trailing technique, will try leave it open for a maximum period possible) at around 1.1025


In conclusion, all the levels I mentioned are based on a current market activity, but everything can be changed within seconds, however based on a review that is done, I will be looking for a selling opportunities coming week.
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stream
a year ago
There is not a pattern for short on the weekly chart ...there is a pattern for waiting . I hope you accept that like creative professional discussion ...nothing personal ..Good luck
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Marenno PRO stream
a year ago
Well at the moment, it is a continuation pattern, due to the place it appeared at. However, as I have mentioned, anything can be changed in a seconds. If the same pattern appeared above the support then I would consider buying.

Another thing I would like to mention, is, if You're Analytic, then You can say something like we're waiting, but what you're waiting as a trader? when it will be broken doun or up - how will you enter a trade, or you will wait again? Basically I agree, but hopefully you got my point!
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stream Marenno
a year ago
I am not waiting ,my position is opened . I mention waiting for those who not have a position yet and now are wondering .. Just I answer of your patterns on weekly chart . If you use some candle patterns suppose to wait .lol I wonder how you have totally opposite opinions .. Sorry about that
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Marenno PRO stream
a year ago
when you're saying totally opposite opinions what do you mean? let me clarify
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stream Marenno
a year ago
I mean long
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Marenno PRO stream
a year ago
Basically what I would say, that entry point on a Higher Time frame can be target on Lower. did I answer?
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Marenno PRO stream
a year ago
if you're saying about a quarter chart and a daily chart, then in a short words: in a long term the trend can reverse, and I have mentioned reversal area, but in a short wile - basically the price have to get there some how.
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stream Marenno
a year ago
I cant tell that this is a revers , this is a retrace ...going up for rejection . The trend is still down . Revers is something else . That area is 1.000. There will be a reverse
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Marenno PRO stream
a year ago
Agree
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Marenno PRO stream
a year ago
but we'll see, how can we argue? it's wrong in trading. must stay open Fella!
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Marenno PRO stream
a year ago
what timeframe do you trade? what are your stops, how long do you keep the trades for?
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Marenno PRO stream
a year ago
Some of my trades lasts for seconds, some for days.
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stream
a year ago
snapshot
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