ForceFollower
Short

EURUSD Resuming The Down Trend?

FX:EURUSD   Euro Fx/U.S. Dollar
316 8 0
EUR/USD             has made me feel like a nitwit today. If I read it right, it has failed to make it to the blue upper border of the channel, is now following the downward frequency (slope) and may be getting ready to resume the downward trend. But first I want to see it make it to the green support level . Take it with caution, though...
dojitrader
3 years ago
I'm curious ? If you think it is going to go down, why wait until it hits the green line and leave all those pips on the table when you can sell right now with a stop only a few pips above 1.3670 ? Small risk - big reward ? (if it hits the green line - where would you put your stop at that point ?)
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motleifaul dojitrader
3 years ago
He means that it will go to the green level(to take profit) before he may decide whether it will resume the downtrend or not.
First target is the green line in his study.
This is just to explain how I understood him.
I have another opinion about EUR/USD and expect 1.38 until Christmas. It will not rise in one move and so I took a first long position now and expect a little profit. After a setback I will buy again.
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ForceFollower motleifaul
3 years ago
Thank you, motleifaul, you've read me very well. :) I'm not happy about this study though. I guess your opinion may be right.
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ForceFollower dojitrader
3 years ago
Sorry, I didn't mean waiting for the entry until the green line. What I meant was that I don't actually expect the resumption of the downtrend, only a correction to the green line. However, as you can see, it was a total flop.
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Surefyre
3 years ago
EURUSD has made a nitwit of me for weeks, especially given that I've been expecting 1.318 from it by the end of the month (ABCD completion of the CD leg) so should expect it to drop. You're not alone in your nitwit-ness!
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ForceFollower Surefyre
3 years ago
I'm glad you said this... :-D Now I feel better. :)
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motleifaul ForceFollower
3 years ago
Perhaps you feel even better when I tell you that I lost in this pair the last 4 weeks too.
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ForceFollower motleifaul
3 years ago
Hey, I'm never happy, when my friends are down on luck. But, actually... yes, now I feel better. :-) I had a bad week, forgive me.
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