EURUSD – SPOT: Selling On A Retracement
Price Action: Price moved higher from the Inside Bar Pattern that had formed late last week (We did not consider trading this pattern).
Price moved significantly lower from the recent Bearish Multi-Bar Fakey + Pin Bar Setup (Event Zone) that had formed over four weeks ago (We suggested trading this setup in the April 25th, weekly newsletter and hopefully some traders got on board).
Potential Trade Idea: We are considering selling on a retracement higher to within the range of the prior Bearish Multi-Bar Fakey + Pin Bar Signal (Event Zone) that had formed just under the 1.0804 – 1.0937 key resistance area, over four weeks ago.
Price Action: Price moved higher from the Inside Bar Pattern that had formed late last week (We did not consider trading this pattern).
Price moved significantly lower from the recent Bearish Multi-Bar Fakey + Pin Bar Setup (Event Zone) that had formed over four weeks ago (We suggested trading this setup in the April 25th, weekly newsletter and hopefully some traders got on board).
Potential Trade Idea: We are considering selling on a retracement higher to within the range of the prior Bearish Multi-Bar Fakey + Pin Bar Signal (Event Zone) that had formed just under the 1.0804 – 1.0937 key resistance area, over four weeks ago.