Captain_Walker
Short

(4H) EURUSD short.

FX:EURUSD   Euro / U.S. Dollar
This is an interesting setup for a short on the EURUSD             . I've made my probability estimates based on standard indicators:
1. EMA50
2. Aroon 19 (a customised version).
3. BuySellSignal
4. ATR stop-loss by Vervoort.
5. RSI .
6. Fibonacci

Key features - all considered together:
1. Established down trend is re-established by price falling below EMA50 on 4h.
2. Aroon down (the bears) has shot to 100 and made an ideal cross at 50.
3. Weak bullish rebellion has failed ( Aroon up falls off not getting near to 50, and bears setting back in).
4. Fibonacci support fails at 61.8
Comment: Shorted with stop-loss just above 61.8 Fib, at ATR stop-loss line.
Comment: Trend re-established after a minor bull rebellion.
Comment: South we go!! LOL
Comment: Doing okay!! LOL
Will the trend reverse upward to D? I'm new with Forex. If so what would be the target?
Reply
I can't see a D on my chart. Perhaps you're looking at somebody else's position. There are no targets in trend following. I've posted a link after this text. I don't know if it will be allowed. Message me later if you wish to learn more. http://www.newtrader.club/2016/05/13/comparison-of-trend-following-with-non-trend-following-trade-scenarios/
Reply
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