tntsunrise
Short

EURUSD Fake Break Out+LIBRA Pattern

FX:EURUSD   Euro Fx/U.S. Dollar
2414 9 65
EURUSD             Fake Break Out
Why?
Coz 1.1464 is the previous high
and price goes up and come all the way back.
After NFP
Eur has retested this level.
Long Pin bar formed.
So Eur has back to the original Range
and did not make a higher high.
this tells me eur is going down again
This is also an explanation that why the LIBRA PATTERN
is helpful.
Comment: Getting CLoser.
watch 1.1464
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Got stopped out of my long position at breakeven (luckily) and opened a sell with a small size cause it's a little on the oversold side.. would you wait for some confirmation to go short or would you say it's time to enter for good?
Reply
tntsunrise TOP IAmAgainst
I already short at 1.1460 after NFP,
+1 Reply
KVE PRO IAmAgainst
On what TF and for which indicator is it oversold? It's actually mostly neutral on all TF's... It might be moving towards oversold, or maybe you stochastics on lower TF? But that actually doesn't say much about an idea on the 4H TF. I don't mean this in a disrespectful way, just my observation on your remark.

Anyway, I just shorted at trendline break and re-test, to get more confirmation and a higher probability trade you could trade a breakout such as this:
snapshot

>> Sell below a possible correction forming below the broken trendline and/or below the last low...
Reply
And it might be better to wait for the next open after the weekend, you never know,... ;)
Reply
In RSI H1, I didn't say it's oversold, I said it's in a zone likely to make some bounce up, providing a better entry point to add a little more to the position I already have. I didn't even say it, I "asked" it to TNT.
I'm not talking about the overall trend in H4 or D1 but the inner zig-zags.. sorry if it was a dump question.
Reply
KVE PRO IAmAgainst
No worries man, you said it's a little on the oversold side which I didn't see at all, no offense intended.
Anyway, for me shorts still look good and I suspect TNT agrees judging by his idea.
Have a nice weekend!!
Reply
No problem..
Reply
Need attention for this level. High support + 61.8 fibonacci

snapshot
Reply
Lol... U will fail... 1.14-1.13xx its a good barrier... Profit taking should be there for sellers... Goes below just a correction before it would be test back 1.15 above
Reply
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