As anticipated, 1 hr bullish bat pattern i posted recently seems to be failing (i liquidated it near 1.12).
Larger daily setups at hand give us clear areas of supply and demand for positioning our analysis. The sell zone setups are being confirmed by consecutive lower closes on the hourly chart.
-Always use a stop
-Trade only with money you can afford to lose
-Be open to multiple scenarios
-It's okay to be wrong about anything
Larger daily setups at hand give us clear areas of supply and demand for positioning our analysis. The sell zone setups are being confirmed by consecutive lower closes on the hourly chart.
-Always use a stop
-Trade only with money you can afford to lose
-Be open to multiple scenarios
-It's okay to be wrong about anything
Comment:
Potential Price Action Invalidating this scenario has come through. Watching for signs of the sell zone failing -- if it does EUR/USD could break to make a new high.
Comment:
EUR USD Short trade closed -- price action shows this posted chart of eurusd more likely to either:
A. Whip saw move up to 1.126/top of range before breaking lower
B. New high and trend breakout higher coming.
Even if I"m wrong about the above, the largest time frames (as displayed by the USD/CAD pair and others which is a daily/weekly dominant setup) and momentum is not bullish for the dollar. This was just a corrective potential. I'm happy to sit it out in lieu of what price action has shown me.
A. Whip saw move up to 1.126/top of range before breaking lower
B. New high and trend breakout higher coming.
Even if I"m wrong about the above, the largest time frames (as displayed by the USD/CAD pair and others which is a daily/weekly dominant setup) and momentum is not bullish for the dollar. This was just a corrective potential. I'm happy to sit it out in lieu of what price action has shown me.