EUR/USD Oct Wk1 Short Setup

Euro Fx/U.S. DollarFXCM

Description

⋅ Oct 5, 2020 3:26 PM

Multiple confluence point do both an appreciation of the U.S. dollar this week, on the back of multiple structural reversal patterns in both various equity markets but WTI, and vix being over 26 which suggest a bearish trend for the US500 / SPX. Wait for a rejection of the zone in yellow on the 4-hr time to short for a multi-day/week swing to the downside.

Comment

⋅ Oct 5, 2020 3:27 PM

Comments

nrmt2010

⋅ Oct 5, 2020 5:57 PM

Thanks for sharing your great experience. I wish you good luck.

TayFx

⋅ Oct 5, 2020 6:26 PM

@nrmt2010, Thanks friend

meshyp

⋅ Oct 5, 2020 4:27 PM

This is my perspective. Break of trend and resistance. Now looking for retest before looking at going long.

TayFx

⋅ Oct 5, 2020 4:35 PM

@meshyp, look for the camera logo in the top right of your chart in tradingview. Copy and paste the .png link

meshyp

⋅ Oct 5, 2020 4:37 PM

@TayFx, Nice one Tay.
Still getting used to sharing ideas and communicating on here.

TayFx

⋅ Oct 5, 2020 4:40 PM

@meshyp, Nice. This would imply that DXY hit's 92.00 right?

meshyp

⋅ Oct 5, 2020 4:41 PM

@TayFx, Yeah. I've got it marked down at 92.78.

TayFx

⋅ Oct 5, 2020 4:43 PM

@meshyp, Once 93.5 breaks and closes below daily I will consider a bearish/neutral bias

eProtrading

⋅ Oct 5, 2020 3:45 PM

I think it's a buy after break and retest.

TayFx

⋅ Oct 5, 2020 3:51 PM

@Ammyfoxtra, that's an interesting trend-line. Thanks for showing