FullTimeTrader
Short

EURUSD-back to parity-following my plan

FX_IDC:EURUSD   EURO / US DOLLAR
1886 15 42
I have my work done for this pair. Some days ago I published a long term analysis.

I said clearly the AREA 1.6 was my prefered for a pullback, near the EMA55 and prievious wave 4.
EURUSD-everything is pointing to parity


I think the bullish party is over for this pair, caused mainly by greek euphoria and market panic, but the price needed this deeper pullback.

Yesterday the price touched the weekly ema 55 and retraced, amazing!! (even for me)
snapshot


I didnt open a trade due to volatilty and panic!.
Here on D1 chart we can see price finished a WXY correction (could be more complex).
We have also a corrective channel acting as resistance.

How to enter? i will place a sell limit order near 1.500. We could have more entry points for sure, market is generous and give us many opportunities.
I will open three positions with targets shown on chart.
Last target would reach the parity.

Regards.

*****************DISCLAMER********************************************************************
This is just and idea, not a recommendation to buy or sell.
Always do your own analysis before opening a trade.
Managing is 60% of a trade, anytime I may decide not to open, close or even stop and reverse a trade depending on price action.
Any respectful and constructive ideas are welcome (agree or disagree).
We all are here to learn sharing ideas, have fun and improve our performance.
Awesome analysis
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Yahia.Awes
a year ago
That looks like a BIG bearflag...
Reply
FullTimeTrader Yahia.Awes
a year ago
Yes! but the expected target for the flag is limited to parity i think.
Reply
FullTimeTrader
a year ago
P.D. Jus a correction. The levels im talking about is 1.1600 and 1.1500. The chart is clear.
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F
a year ago
snapshot

It looks like same pattern. there could be marginal higher high
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F F
a year ago
That means Sl should be placed above 1.765
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F F
a year ago
I'd place sell order 1.7645 with 1.77 stop
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FullTimeTrader F
a year ago
Yes, a last higher high or a double top would be ideal to have a better R/R ratio.
+1 Reply
F FullTimeTrader
a year ago
Thanks for your work! great
Reply
FullTimeTrader
a year ago
UPDATE: moving SL to BE (some pips above 1.15). GPBUSD is also working fine but didnt opened that trade because these two pairs are strongly correlated.
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KVE PRO
a year ago
Exellent analysis! Hopefully we'll still get to your Y point to have an excellent R/R ratio for a short.
It seems I messed up with the letters on my chart :-s (ABCD... instead of WYX...) but that bearish flag looks very appealing to me!:
snapshot
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KVE PRO KVE
a year ago
With comments...:
EUR/USD: The bigger picture! Analysis paralysis setting in...
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FullTimeTrader KVE
a year ago
Good analysis! on W1 chart we are still on downtrend. The path to parity could be more complex, so your possible AB=CD will be an ideal area too keep in mind if prices gets there. The WXY and AB=CD give the same message, the difference is just "technical". The corrective channel is a good EW technique also. Regards.
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KVE PRO FullTimeTrader
a year ago
Thanks alot for your reply and confirmation, cheers!
Reply
lombard.jp
a year ago
really appreciate your analysis...keep on posting
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