I reentered my short idea by breaking the lower resistance line. 4 Positions with targets as set above. stop lies on the upper resistance line. I guess I should have been more consistent and trustful in my idea, but the bullish pressing on the € was a new thing for me, I never experienced before... So let's push the € down again! :)
LevRidge
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how do you know the red line is valid?
xriz.toppa
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The red line crossed the last candle on a weekly basis. But this candle wasn't closed at this time.. As we know the quotation went downwards and closed under the red line.
LevRidge
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couldnt the same be said about the last two tops euro made? At the time it looked like the trend line was valid just to be broken again two times now and probably a 3rd time coming
xriz.toppa
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Do you mean, that the trend was still broken on the weekly frame from the candles 02.03.2014 and 09.03.2014... yeah that is true but I meant the monthly not the weekly basis.. dunno how to react when it breaks on a lower frame (what was actualy happaning on weekly basis) In the moment I'm pretty unsure about my bearish view. There are so many traders outside who are pushing the buy-buttons (like you) So I'm unsure about my idea. I'm flat now, but ready for shorting
xriz.toppa
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Hedge Fund buys aggressive EUR --> stops over 1.3820/30 were triggert
xriz.toppa
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entry is reached
xriz.toppa
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The quotation reached a dynamic resistance. A sustainable break on a 4H-Frame should clear the way for the first target. Afterwards my entry should have been here. Let's see what happens next.
xriz.toppa
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Servus and thx for your question. You're right. I didn't realize that the red line don't start at the high, so it should look like this
Nevermind, the idea is still valid, because the monthly candle isn't closed yet :)
I apreciate your comment. Do you have other suggestions for the chart?