EURUSD-- 90 pips (Kissing@1.1126 -Wedge Action Part-2 .Bang On)

As per update -wedge action part-2----we had three trading strategies...out of which --we were suppose to go long or keep long unless 1.1015 along with 1.1000 is broken for downside slip....which never happened...I visualised that EU is forming double correction & even came up with range 1.1035--1.1045 for going long in EU...I cannot monitor complete night -that is little problem at my end...well but at 20:20 Hrs--11th July ...The range worked like magic wand--1.1035--1.1045.....& we kissed the target--1.1125 (90--100 pips)...in up down up fashion...

Regards,
Abhishek H.Singh, CMT

Trade active:

20:30 Hrs--12th July 2016---our 3rd trading strategy is active taking short with a tick above 1.1188 as stop mentioned in wedge action part-2....giving us best risk reward ratio....just started impulsive fall from .11126 High...recent high. Regards

Comment:

12th July 2016---20:30 Hrs--Impulsive fall started from 1.1126 Recent High...Current Price--1.1068

Trade active:

22:10 Hrs--12th July 2016---Let us take short only below 1.1015 & 1.1000--as bears could be trapped if they take short here....or look to short very close to 1.1188...so one loses less & gain could be maximum on downside...

Trade active:

19:50 Hrs--12th July 2016---EU bounces back again...as I warned that bears will be trapped if 1.1015 is not broken..same happened...EU again bounced from 1.1040 area to 1.1100..current price...No shorts unless 1.1015 & 1.1000 is broken convincingly...Regards, Abhishek

Comment:

Typo error --should be -"19:50 Hrs--13th July 2016" wrongly mentioned as 12th July 2016....Effectively we have traded twice from the zone of 1.1035--1.1045 --look at the bounce..again heading for 1.1125--1.1135 zone...one can flip the position to take shorts if goes close to 1.1185--1.1188 resistance area for taking shorts with a stop 2 ticks above 1.1188...or if you get bearish confirmation at your end. Regards