hey traders, eurusd finally reached a crucial level of resistance. Clear bullish divergence on RSI in conjunction with dodji makes me looking for selling opportunities. as you see, from August 15, the market established a rising wedge, bearish breakout of this wedge will trigger selling reaction from many traders so probably we will see a nice rally to the market low (but, dont be caught in a trap, wait for clear confirmation after breakout).
I would set stop above 1.18, target would be based on market low!
@thuymoon, no no, I would short only after breakout of wedge support + I am always waiting until the candle closes below
thuymoon
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@VasilyPonomarev,
At the moment, it breakout, so should short eu, right?
What timeframe?
VasilyTrader
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@thuymoon, I suggest you to wait for another confirmation, I am watching right now this wedge, and looking for breakout
thuymoon
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@VasilyPonomarev,
Im shorting, and im hope down, but now i dont know eu will up or down
VasilyTrader
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@thuymoon, so If you hesitate, add a confirmation trigger! It will help you to easier execute orders
thuymoon
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@VasilyPonomarev,
I dont know about it
:)
VasilyTrader
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@thuymoon, so lets go back to eurusd pair for a moment, this sentiment, that I just sent you is very ambivalent, some traders see bullish flag pattern and wait for bull breakout,
being on selling side, we see falling wedge and bear breakout of it will trigger shorts! as you see no one is right and no one is wrong! and if you hesitate, patience pays!