Price rally and make new high after bad NFP data. However it break down 1.1260 support and cant' maintain above.
Therefore we can short the pull back and SL above the previous high, this is to trade a Buyer Failure (2nd attempt but can't make HH)
Potential Target is given.
Trade with your plan. Good Luck!
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Price hit into the zone. Do not Enter first. Check for Price action
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Price action showing good. We can short
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The uptrend line is broken
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Going to Hit TP1 soon. u can take half profit and Make SL break even if you want
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Guys, I really don't care I am right or wrong. Trading is never confirmed, no one can be 100% sure he is going to lose or win . that is the beauty of trading. you won't know the results, but patterns are here to increase your risk/reward ratio and increase your winning ratio. Trading is a business rather than a guessing game, so train your eyes, set up your plans and trade them. Guessing the direction without a trading plan will never help you make single cent. for those who "think" euro may have another high, let me ask you: did you long eurusd or not? if yes, are you buying high or buying low?
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TP1 HIT
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After Hit TP1, price rally. it is very good for us to take some profit before the rally happen. now please look at the 0.618 level, maybe another short
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for FOMC meeting. 1.1240-1.1250 is the key
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Price action very bullish now. observe first.
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Hit 1.618 ext Guys check the price action at 1.1291
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Nice Pin, 2nd test of 1.1290 Short
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For those who short from 1.1290, a good 100 pips profit
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NOW IS 1.1175, BREAK DOWN THE TREND LINE hold your short
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watch the pull back to short again
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now is 1.1130 the pull back short is so nice
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sell the breakout of the channel
Trade closed manually
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Latest Update 1. the channel was not broken, therefore no sell orders. 2. the previous 1.1290 selling order hit break even sl and then euro breaks 1.13 3. 1.13 was broken and this means EUR may test 1.1366, so if there is a pull back to 1.13 level, a buying opportunity is going to happen.
To all of you saying that he will be wrong
Then why do you follow jack? Becouse he has been right many times before.
Any way, why do you guys care if Jack gets stopped out or not?
Euro is not in an uptrend. It is in a range, which came after a downtrend.
gcplau
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@RandomDane, interesting stat, but the way you count the 24 bars for the 3 incidence is inconsistent, you did not use trend break, or key PA reversal traits.... do you mind to share the criteria you used to define the trend reversed?
RandomDane
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@gcplau, Time cycles can variate. They are rarely perfect. My counting is not inconsistent.
My point is, that euro has seen less momentum, than in it's past 2 minor uptrend. They do not have to turn at the exact time and date every time.
RandomDane
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@gcplau, And, I do not have to use the exact same criteria as you.
Hiep_Khach_Hanh
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Your mistake is to find the top in an uptrend
tntsunrise
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@Hiep_Khach_Hanh, i am trading a potential double top. meaning that 2nd attempt fail to break new high. if all ppl are buying in an uptrend, then why the pivot appears? because the higher the price rally, the more ppl are willing to take profit and sell. there is no uptrend can continue forever. but the trading logic remains same: buy low, sell high.
Jack19
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No lol, you are wrong this time again. See EURUSD is going at least to 1.1290 areas before dropping heavily
Dankofx
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@Jack19, Where do you think it can fall more or less?
Jack19
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@Dankofx, My entry limit sell order is at 1.1290 but the price may rise more 1.1350 ~ 1.1380 areas before heavy dropping. Now it is going to rise more following 1.2.3.4.5 rising channel on 4h chart.
Euro may fall.
I agree with you jack
To all of you saying that he will be wrong
Then why do you follow jack? Becouse he has been right many times before.
Any way, why do you guys care if Jack gets stopped out or not?
Euro is not in an uptrend. It is in a range, which came after a downtrend.