EURUSD WATCH THIS PAIR
So I have been dealing/battling with this pair for the past month or so, as I think many traders have been. EURUSD on the daily timeframe keeps attempting to break to the upside above structure around 1.17200 but last couple times has been slammed down by the sellers resulting in a fakeout above structure on the 4H around price handle of 1.16500. This pair definitely hasn't been easy to trade but I wanted to post analysis on this for future reference for a future potential short trade opportunity. Based on the fact that the sellers keep pulling it back down in price it's showing me that the sellers do have some interest in shorting this pair. Keep an eye on this pair for a test of 1.16500 recent significant structure and BEFORE we look to sell I'm going to say wait for a break/breach and hold beneath significant structure around the 1.15400 area. This is due to the fact that structure here has been holding very well with good interest from the buyers around this point, so if we're looking to go short we should wait for a break and hold beneath this structure point (so that we have higher probability) on this trade if we have a chance to take it.
I just wanted to post this so everyone can keep their eye out on it and see my outlook for it as well. I have a few other setups I may be posting about this week I just need a little more data to see to be able to make a business decision based on a probable setup. I will keep everyone updated!
Please like and follow me here on TradingView for more trade posts! Cheers!
So I have been dealing/battling with this pair for the past month or so, as I think many traders have been. EURUSD on the daily timeframe keeps attempting to break to the upside above structure around 1.17200 but last couple times has been slammed down by the sellers resulting in a fakeout above structure on the 4H around price handle of 1.16500. This pair definitely hasn't been easy to trade but I wanted to post analysis on this for future reference for a future potential short trade opportunity. Based on the fact that the sellers keep pulling it back down in price it's showing me that the sellers do have some interest in shorting this pair. Keep an eye on this pair for a test of 1.16500 recent significant structure and BEFORE we look to sell I'm going to say wait for a break/breach and hold beneath significant structure around the 1.15400 area. This is due to the fact that structure here has been holding very well with good interest from the buyers around this point, so if we're looking to go short we should wait for a break and hold beneath this structure point (so that we have higher probability) on this trade if we have a chance to take it.
I just wanted to post this so everyone can keep their eye out on it and see my outlook for it as well. I have a few other setups I may be posting about this week I just need a little more data to see to be able to make a business decision based on a probable setup. I will keep everyone updated!
Please like and follow me here on TradingView for more trade posts! Cheers!