Was long here, but rarely, we're able to take profits and trade right back into the other direction, but these situations are uncommon.
I have tried to explain why I was long, and where I went short, and why I decided to immediately countertrend the trade I literally just did.
Best of luck, Tom
Comments
moneymaking
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Hey Tom, how you doing? Hope FOMC didn't bother any of your active trade :)
Nice setup, I'm also looking for shorting this pair, buyers are looking weak, at least for now. All the BEST mate :)
TomProTrader
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Hey, Good thanks! Hows the trading?
Luckily no, FOMC didn't effect anything, which is good. Yep, buyers look like they're realising they're defeated. Bears are in! :-)
Regards
Tom
IvanLabrie
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Same view.
TomProTrader
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Very nice.
Regards
Tom
The_Cannalyst
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thx for sharing..here is my view:
At the moment i see on the one hand the chance for a double bottom with basis 1,08. The target of this formation is 1,1425. -Above 1,1425 there is enough place to make a new high at 1,18. (orange counting)
On the other hand there is the strong momentum and dynamic of the longterm downtrend - we are trading at its trendchanels upper edge. This can perhaps be interpreated as a new anticyclical selling signal as long as we trade below this level.
-Below the last valid orange "3" at 1,08 a drop to 1,04 can be exspected
-below the last valid red "2" a longterm selloff can be exspected with target @ 0,92
prashantfx
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CAN I SHORT DIS PAIR NOW FOR LOWER TARGET ? WHATS THE STOP LOSS LEVEL ?
TomProTrader
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I am here to provide framework for trade ideas, not actual levels. Those have to be done by the trader.
1. You should know the levels if you're ready to trade
2. I'm not accountable for giving a wrongful trade.
Nice setup, I'm also looking for shorting this pair, buyers are looking weak, at least for now. All the BEST mate :)