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.
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
Reply
Marenno stream
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!
Reply
stream Marenno
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
Reply
Marenno stream
when you're saying totally opposite opinions what do you mean? let me clarify
Reply
stream Marenno
I mean long
Reply
Marenno stream
Basically what I would say, that entry point on a Higher Time frame can be target on Lower. did I answer?
Reply
Marenno stream
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.
Reply
stream Marenno
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
Reply
Marenno stream
Agree
Reply
United States
United Kingdom
India
Deutschland
España
France
Việt Nam
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Support Priority Support Report Issue Ideas Published Followers Following Private Messages Chat Sign Out