Timing is key
Short

Looking for a Pullback on the EU

FX:EURUSD   Euro / U.S. Dollar
704 31 5
Hello all,

We have the EU and the pound correlating at a potential P5 pivot . As the potential top came in a little early and hit the Upper MLH I am going for an ambitious short with a tight stop on the EU at around 129220 . Lets see what how this unfolds.

Note: If entry price does not activate and price moves sideways past the red downward sloping reaction line, I will have to cancel trade and wait for another entry.
Beautiful triple top formation, As the market comes off & because of the sideways run my revised profit target will be along the upward sloping RED reaction line on the bottom right of the chart, What normally happens is the market will stall along the line ( around 128300 ) and either reverse or close beyond it in which case it will go down approx another 60 pips:)

For those who use forks: If you focus on the upward white pitchfork, This fork was drawn after P4 confirmed notice how shallow ( the pitch ) of the fork is, this is an early indication that if prices begin to respect the parallels ( which they did when it reversed at the upward parallel ) that prices where going to drift up & down SLOWLY within the fork until they left ( See lower parallel as soon they closed on the other side of it, the move down was quite rapid and was an excellent short at that point.

Thanks again,

TIK
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Timing is key Timing is key
There was also another excellent shorting opportunity as soon as the P0-P4 Line was breached ( First pullback up towards the line was your entry point as it left a GAP, this indicates that it will reach the next lower RED reaction line:)

Thanks,

TIK
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CammoZabisyu Timing is key
Nice :)

I opened a 4th sell position at 1.2863 as it was a breakout level.. now with 4 sells heading to TP 2810 :)
Reply
Timing is key CammoZabisyu
Nice move in the end:) good luck with those positions:)
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CammoZabisyu Timing is key
What are your thoughts? We will reach 2810 today? Just a little bit more is needed. Cmoon!
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CammoZabisyu Timing is key
Nice about 128300 didn't expected that. Anyway I closed my positions somehow I don't want to leave them open during he weekend. Anyway I see TP is still valid. Nice trading buddy. I closed my positions with 860Eu profit. Nice for doing nothing. :)

Have a nice weekend buddy, see you monday! ;)
Reply
Timing is key CammoZabisyu
128298 was the low of that run ( Dam was 0.20 of 1 pip out on my forecast:) need to work on my precision. Excellent place to take profits and reset for next week, This run has now closed 4 times on the other side if this line........I'll let you decide what happens next:) will probably gap down and pullback to the line before continuing down and do the same distance down around 60 Pips.......we will have to wait and see.

Sincerely,

TIK
Reply
CammoZabisyu Timing is key
Hello!

What are your thoughts now? 2810 is still valid thats for sure! Once market opens I'll open position. But I see it will go even deeper!

Thanks!
Reply
CammoZabisyu CammoZabisyu
Op no have to analyze! There will be a pullback I hope!
Reply
CammoZabisyu Timing is key
What I see now hopefully there will be a pullback till 128660. Because from 128390 ( 128290 ) start's a buying opportunity TP for it would be 28660.. and from 28660 end of the pullback I would sell wiith TP 2810.. Please what are your thoughts buddy about pullback? :)

Have a nice day!
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