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
Reply
That looks like a BIG bearflag...
Reply
FullTimeTrader Yahia.Awes
Yes! but the expected target for the flag is limited to parity i think.
Reply
P.D. Jus a correction. The levels im talking about is 1.1600 and 1.1500. The chart is clear.
Reply
snapshot

It looks like same pattern. there could be marginal higher high
Reply
F F
That means Sl should be placed above 1.765
Reply
F F
I'd place sell order 1.7645 with 1.77 stop
Reply
Yes, a last higher high or a double top would be ideal to have a better R/R ratio.
+1 Reply
F FullTimeTrader
Thanks for your work! great
Reply
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.
Reply
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
Reply
With comments...:
EUR/USD: The bigger picture! Analysis paralysis setting in...
Reply
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.
Reply
KVE PRO FullTimeTrader
Thanks alot for your reply and confirmation, cheers!
Reply
really appreciate your analysis...keep on posting
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out