If the Euro breaks below the 1.121 area there are no more bulls in the room, for now there seems to be a pullback in the offing for us to consider a short trade in the selling zones (see chart notes) when(if) that happens I will update the post. For now we are decidedly bearish and waiting for a break of the Senkou Span B (white line). CMF(26) is bearish, kijun flattening tenkan full bearish. Chikou span shows a strong bearish trend. WPR(9) was oversold, so that would allow us to sell on a break, but I would prefer the higher price in the zone 2 or at least zone 1.
Good Trading folks,
Shiroki
Good Trading folks,
Shiroki
Trade active:
Got a failure swing WPR(9) on the close of 6/13 20:00. Initial short condition met. Midnight last night we broke the Senkou Span B resistance level, I am short now to the 1.11 area, stop loss just above 1.1290
Comment:
Price approaching the Senkou from below now. If you are really brave adding here might be your style so hang on to your teeth this is gonna get ugly. No one wants their face ripped off, but at least they can identify the remains on dental records. However tightening a stoploss might be more prudent @ just above 1.1265 (midway of the long breakdown candle) which a retracement might touch
Comment:
Depending on whether or not your stop loss was above the 1.1290 level would dictate if you got hunted out today. My stop-loss was not touched, but easily could have been 1.1290 +/- 10 pips on this 4hr chart, either way, short still for the time being and if you tried to short the senkou touch, oh well.
Comment:
Time to trail the stop loss, 1.1200 seems like a logical place as it marks the beginning of the retracement started on 6/14 12:00 (4hr) locking in a break even +10pips from the key level.
Trade closed: stop reached:
Stopped out break even +10 pips, and we will try again later
Order cancelled:
This idea is being reworked, no re entry here