EUR / USD - LONG SCENARIOS - SET UP
We have reached a strong support area in the higher time units, which could provide for a price - reaction.
In my IDEA (EUR / USD - IS THE UPWARD FLIGHT COMING TO AN END?) I went into detail on the - Higher Time Frame - picture and argued rational reasons for a possible upward movement.
At this point, there is no confirmation that we will see an upward move. Despite that, there are some points in favor of it:
> DXY (= USD) - has several bearish divergences which could signal a correction.
+ It is at a very strong resistance area.
> EUR/USD - has several bullish divergences, which could signal an upward movement.
+ It is at a very strong support area.
Also, from the higher time levels, in both of the aforementioned pairs, the statement of each divergence would be justified and would provide for a healthy price.
By the fact that the IDEA is a little ahead, there are two Set-Ups, which have a respective STOP-LOSS to invalidate the position (1) + (2).
> If it is possible for me, I will update this IDEE at the same time as my own trade decision and communicate the selection.
> Should contrary to my assessment, something change at the higher time level reason, this will be communicated here.
Otherwise, the IDEA is kept up to date and I will add a few interesting points, which can help you in your own analysis.
> Good luck and always remember - DYOR - <
In my IDEA (EUR / USD - IS THE UPWARD FLIGHT COMING TO AN END?) I went into detail on the - Higher Time Frame - picture and argued rational reasons for a possible upward movement.
At this point, there is no confirmation that we will see an upward move. Despite that, there are some points in favor of it:
> DXY (= USD) - has several bearish divergences which could signal a correction.
+ It is at a very strong resistance area.
> EUR/USD - has several bullish divergences, which could signal an upward movement.
+ It is at a very strong support area.
Also, from the higher time levels, in both of the aforementioned pairs, the statement of each divergence would be justified and would provide for a healthy price.
By the fact that the IDEA is a little ahead, there are two Set-Ups, which have a respective STOP-LOSS to invalidate the position (1) + (2).
> If it is possible for me, I will update this IDEE at the same time as my own trade decision and communicate the selection.
> Should contrary to my assessment, something change at the higher time level reason, this will be communicated here.
Otherwise, the IDEA is kept up to date and I will add a few interesting points, which can help you in your own analysis.
> Good luck and always remember - DYOR - <
Comment:
Have now taken partial profit and wait for further progress.
Comment:
The DXY sits now on a strong FIB Level support, and we should see a bounce from here.
= Pressure for all markets
= Pressure for all markets
Comment:
The DXY followed the reaction marked in blue and must now soon show a first strong counter-reaction to the down-sale.
Hitting a strong support zone:
> DAILY - DEMAND ZONE
> 0.75; 0.786 + 0.88 FIBONACCIS
> STRONG SELL WITHOUT CORRECTIVE PASSAGE
= market makers need liquidity again
Hitting a strong support zone:
> DAILY - DEMAND ZONE
> 0.75; 0.786 + 0.88 FIBONACCIS
> STRONG SELL WITHOUT CORRECTIVE PASSAGE
= market makers need liquidity again
Trade closed: target reached:
I closed my remaining LONG position and will re-enter at the retest.
- now I'm shorting the way down / set-up is in the following chart
Some awesome gains - GG to everyone who joined!
- now I'm shorting the way down / set-up is in the following chart
Some awesome gains - GG to everyone who joined!
Trade closed: target reached:
The - SHORT - has worked very well!
We are now running into my target zones, and you can see them by the purple zones in the chart.
We are now running into my target zones, and you can see them by the purple zones in the chart.
Trade closed: target reached:
SHORT was closed completely after reaching the second target zone!
Trade active:
LONG was opened, as the DXY shows weakness and momentum comes into the EUR/USD. (possible bottom formation)
Comment:
LONG positions were closed and reopened still inconclusive behavior of the DXY.
> the strong turquoise entries are still open
> the strong turquoise entries are still open
Comment:
After my last UPDATE, the price has shot up and has achieved an increase of 0.45% in 15 minutes.
> Congratulations to those who managed to get in before
The reason for the rapid rise was the strong ab-sale in DXY (USD), which was released due to the newly published, lower - ISM data.
After this strong down-sale in DXY + strong rise in EUR/USD, a correction, would be very healthy for the market.
> First signs of such a scenario can already be seen, which would provide a second opportunity for a LONG entry / position expansion,.
TF = 1H | LONG - POSITIONS ENTRY
TF = 1H | POSSIBLE SCENARIOS
TF = 1H | TARGET ZONES
> Congratulations to those who managed to get in before
The reason for the rapid rise was the strong ab-sale in DXY (USD), which was released due to the newly published, lower - ISM data.
After this strong down-sale in DXY + strong rise in EUR/USD, a correction, would be very healthy for the market.
> First signs of such a scenario can already be seen, which would provide a second opportunity for a LONG entry / position expansion,.
TF = 1H | LONG - POSITIONS ENTRY
TF = 1H | POSSIBLE SCENARIOS
TF = 1H | TARGET ZONES
Trade active:
I hope everyone doesn't move their SL - after the Job Data got released, we saw a heavy drawdown from the USD, which gives the EUR the opportunity to take over.
- tomorrow I'll get more in Detail about the Key Levels
- but the position should be seen as a "Swing Trade“
- tomorrow I'll get more in Detail about the Key Levels
- but the position should be seen as a "Swing Trade“
Comment:
The MACD Cross has paid off, and we have made a new HH in the short term.
> A correction is needed to complete another healthy rise.
> The correction can be traded, my approach is shown in the chart.
> The SWING LONG position remains untouched, only the SL was moved to break even.
The further movements are all dependent on the USD (DXY), which should experience a small bounce back after its sell-off.
= short term SHORT for EUR
> A correction is needed to complete another healthy rise.
> The correction can be traded, my approach is shown in the chart.
> The SWING LONG position remains untouched, only the SL was moved to break even.
The further movements are all dependent on the USD (DXY), which should experience a small bounce back after its sell-off.
= short term SHORT for EUR
Comment:
UPDATE - Levels
Trade closed: target reached:
GOLDEN POCKET (0.618 - 0.65 Fibonacci) was successfully reached.
- Profits taken and continue to stay in the SWING
- SHORTs can be opened at the current positions
- Profits taken and continue to stay in the SWING
- SHORTs can be opened at the current positions
Trade closed: target reached:
I have completely closed my LONG trade and opened a SHORT at the TOP.
> The basis for the SHORT was the divergence (MACD) in the DXY and the EUR/USD, which closed on a sell-off in the EUR.
Congratulations on the gains!
> The basis for the SHORT was the divergence (MACD) in the DXY and the EUR/USD, which closed on a sell-off in the EUR.
Congratulations on the gains!
> I could position myself with a small position too, but will wait for my main position like described before and also if the retest of the 4h DEMAND happens. (Look at the chart, which follows.)
> We don't know if that was already the bottom of EUR/USD, for a clear statement we need to wait for more data and how the DXY / USD behaves.
> There is still possibility that we see an retest of the broken Range in the DXY and maybe, it was only a fake-out. (Less likely, when you ask me.)
EUR/USD - Possible early Entry if the price retest
DXY - RANGE - BROKEN