Multi Timeframe Analysis
Trading philosophy: We don’t short at the lowest of the bearish momentum nor do we long at the peak of a bullish impulse. The safest entries are at the end of a retrace in the direction of the D1 master trend.
Recommendation:
Within 7 to 14 days, EURUSD will potentially retrace to the 1.18000 levels (61% Fibonacci) to allow the market to grab liquidity on long positions. This will be part of a minor corrective structure before EURUSD will move back up and take out the current top.
At the 1.18000 level, ascertain the market reaction prior to taking the buy position. Set TP to the current top.
Trading philosophy: We don’t short at the lowest of the bearish momentum nor do we long at the peak of a bullish impulse. The safest entries are at the end of a retrace in the direction of the D1 master trend.
Recommendation:
Within 7 to 14 days, EURUSD will potentially retrace to the 1.18000 levels (61% Fibonacci) to allow the market to grab liquidity on long positions. This will be part of a minor corrective structure before EURUSD will move back up and take out the current top.
At the 1.18000 level, ascertain the market reaction prior to taking the buy position. Set TP to the current top.