I will update you with underlying markets. Thanks you, Khan
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On 4 hrs TF I think there are a lot of people who gone Long at these two green lines. Their SLs will be around those two red lines. If their SLs hit, there would be almost no Support until the next Fibo.
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See this beautiful breakout on US Yields. We have 3.04 as the 2016 resistance level and we are around 3.02 now. If there is a break there, it has to be Huge.... This means stronger USD which is needed for our EURUSD Short trade. GL Khan
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Dear friends. A quick update, if you are already in EU trade or any other Euro crosses and thinking to exit, you may want see the following charts and reconsider your decision. Thank you, KHAN
Euro futures broke the wedge and continuing lower
Euro weighted average broke the flag
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Some of you may already have your position open in EU and deciding to exit. It is a sort of mentality that people think a particular market has been falling for an extensive period of the time and it must pullback. This is not true. RSI can go to 1 if it wants to go.
Anyway weighted average EURO has to get to the next FIBO level to find a support.
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And let me show you where EURO is right now. Where would you think it go next?
If not all the way down, it will get to the fibo overlaps. That is like a few hundred pips.
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EURO futures are highly correlated with EU. Almost like GU we have EMAs and basic resistance at the level. Let's see if this is the final move lower that we have been waiting for to close this trade. TY
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False breakout?
Trade closed: target reached
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I was reading posts last night and it was all EU bull. That I became a bit nervous. Anyway that was 220 pips that I promised you. Use it for trading only :)
But let me explain what happened. There was a major Fibo level that was missed a few days ago and candlestick traders gone long after the daily inverted hummer calling it a bottom. Other markets did not confirm that statement. Now the mission completed. Do not forget to LIKE it if you enjoyed !
Between Euro and GBP, which currency in your opinion is weaker?
FOREXSAKE
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I shorted this last night. Based on the weekly chart and a retrace to the 38.2 fib from the May 2014 high. I just did not expect it to happen overnight. Amazing what you can do on a weekly chart.
mateuscondesales
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And the support at 1.18400? What do you think? Is it a big support?