Marenno
Short

EURUSD Trading Plan (simple)

FX:EURUSD   Euro Fx/U.S. Dollar
Price direction on a 1D chart is down, as new lower low and lower high appeared (Price direction is not the same as a trend direction)
Yesterday's close is below 5MA what gives a bit more power to bearish signals
Currently none of the major chart patterns appears (1D Chart)

Price is currently at 80% Fibonacci retracement area
in a relation to Previous swing UP
On a daily chart next closest level of Support is 1.0800

Currently none of the major chart patterns appears on 4H chart

Price is currently at 127.2% Fibonacci retracement area (Filtered to 4H time-frame)
in a relation to Previous swing UP
On a 4H chart next closest level of Support is 1.0900

Currently none of the major chart patterns appears on 1H chart

Price is currently at 127.2% Fibonacci retracement area (Filtered to 1H timeframe)
in a relation to Previous swing UP
On a 1H chart next closest level of Support is 1.097

News in US are coming out today, normally the Price will range before the news, then it will go in opposit direction of the future movement just before the news, so Have it in minds before entering a trade and check Economic Calendar for Updates

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Using:
http://marenno.com/index.php/how-to-use-volume-and-open-interest-option-levels/

Counting:
http://marenno.com/index.php/counting-option-levels/

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AimanMohamed
a year ago
It is still going up.
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Marenno PRO AimanMohamed
a year ago
Offcourse, for now it is Up, when it goes up - we're looking for a selling opportunity, 1.0975 is a strong selling level for intraday trading.
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Marenno PRO Marenno
a year ago
If it's up and you're not in yet, then don't try to catch a falling knife - wait for retracement - that's what I see there now.
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