A lot of traders believe in patterns like flags. I don't.
Market has created a new high at about 1.0730 and on his way it was a little too fast. So it will retrace at minimum to the first Take Profit Area. And if it has enough power then it will reach the second Take Profit Area also but this is not a must.
So look out for a nice entry and get the most out of this trade.
Any comments or likes are very welcome! I wish you good luck and a lot of pips!
(Don't believe in patterns like flags!)
Comments
ux1077
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I wouldn't short too much until french election rally is over with, if it goes the way people think it goes, around 1.93
ux1077
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Sorry 1.093
Trader3000
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@ux1077, Thank you for your comment. I am already in buy modus because dollar is still falling in my opinion. A new high would be great for the eurusd (and all other major pairs). Maybe the gbpusd will reenter the price level before brexit. This would be the best! I wish you good luck and a lot of green pips!
procrude
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SL Hit?
Trader3000
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@procrude, Thank you for your comment. Luckily for me I was short since 1.0730 then the price fall, like I was thinking, but after a short retracement the price hit my SL at breakeven. So I don't have any losses. In hindsight it is clear for me now that this has to happen. To be honest I was too stubborn in shorting the eurusd, I think. I wish you good luck and quite a lot of pips!
steven223
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Very intresting. I see a strong S&R line where I might sell. But why don't you believe in flags? Or news?
Trader3000
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@Abel223, Thanks for your comment. I only believe in price but this time my short went completely wrong. News are the manipulation between the accumulation phases and distribution phases. This is why I do not believe in news. They are only there for manipulating the levels of price. This flag wasn't a fake, what suprised me. I wish you good luck and a lot of pips!
henrymcivor
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If Le Penn wins the French election then the Euro is going down. Sunday night/Monday morning will be volatile for the Euro pairs.
Trader3000
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@henrymcivor, Thank you for your comment. But as I said: I don't believe in news. (Banks works in a different way.) Your idea is of course interesting because I see also a good potential for a downmove. But for the moment it is too early for any predictions from my side. I wish you a lot of good trades!
UnknownUnicorn900534
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As I am long I want u are not right. Anyway I think that as price went up fast many traders are taking profit and price go down a bit or a lot who knows? Many traders could move stop loss close to price as me on this way will be not so much sell. Every my word can fell down if politic attacks the market as last days.