EURUSD 1HR: Two Structure Levels for Shorts

FX:EURUSD   Euro / U.S. Dollar
I've explained this trade in detail during my latest Weekend Review video (link below), so i'll try to be brief. Like everyone else, I want to buy Dollars & Sell Euros based off of the fundamentals. With that being said it's important that we don't try and jump on the bandwagon because that's how a lot of rookie traders get burnt. Rather, we should stick to what got us here, the technicals and use our skill of technical analysis to predict where the next relief rally will end and find a low risk opportunity to get involved. (By low risk I mean, putting myself in the position where my potential profit is larger than my potential drawdown).

As mentioned in the below video, I like the higher level of structure a lot more than the lower one, but both are worth keeping an eye on for the next leg down. It's crystal clear that the U.S. wants to raise interest rates. The best guess is September, but they have left it open by saying it depends on the economic data. I still believe that this market is prime to ignore any negative USD data (unless it's drastic) and waiting to rally on any "at expected" or positive USD news. These opinions won't affect my trading as far as looking for long or short opportunities, but they're good to know especially if the opportunity comes to shoot for extended targets.

Have a great week traders and make sure you check out the other videos in my Weekend Review Playlist.

"Maybe I Got Too Fired Up" https://www.youtube.com/watch?v=nWcmy9aVA-4&feature=youtu.be

Take Advantage of 15 Training Lessons, Daily Videos, 2 Live Trading Rooms & Our Trading Software by signing up for a 2 Week Trial

Check Out The Trading Coach Podcast
Available on all Music/Podcasting Apps

and here the daily analyis:
Bearish divergence on RSI - 1h Time Frame
+1 Reply
Hey Akil, I like the higher level structure that you pointed out here. Market broke that level very easily but I guess now we are likely to get a retest before continuing the downward move. Thank you and Good luck :)
+1 Reply
I agree. Booked profit on first one, waiting for confirmation to short again.

+1 Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out