Vicious_1m

EURUSD Short Daily

Short
FX:EURUSD   Euro / U.S. Dollar
Hi
as i have analysed the EURUSD in Persian language so i am keeping a Snapshot of the same analysis and position complementary to it so in future we can return back and check the upcoming results and its accuracy...
this position is based on Daily Time frame Divergence with MACD and CPR signaling, engulfing candle stick patterns...
i have used Camarila Pivots and Fibonacci Retracement and Projection for Stop-lose and Take-profit points definitions
it is almost a 2:1 ratio position
please consider the exact prices if you are opening the same position
keep in mind to manage and trill you SL in order to minimize your risk and manage your position

please kindly comment your opinions for me
Trade active: if anybody is using scale in or martingale positioning strategy, can now add a it its position and load more are the price is rechecking the 61.8% fib so it can be a good sign for adding up some volume
Comment: keep in mind that the sum of your SLs shall not exceed your risk limit level and manage your stop-loses accordingly as we may need to add more volume if the trend goes more against us toward our sl at 78.6% Fib or 1.1866
Trade active: hi
i have updated this idea based on today's market move


hidden divergence with MACD
Bearish trend continuation
Triangle formation and lower band break through
past Support turning to Resistance
If you liked the Idea you can follow me for further updates and ideas...
Cheers

Comments

Hi There,
Thank you for your analysis, with Volume profile analysis the POC line to go short is @1.18419 which I am Already Short from this Resistance! next significant Support will be @ 1.17978 which your TP can be before this level.
Damat Gram!
+1 Reply
@YHZ-FX, Hi Dear
thanks for sharing your idea with me. you are absolutely right in my opinion about 1.1797 support but i believe this support has already been tested and fake broke even many times in past but if we look ate the previews tests, we can see that, if it can not be broken instantly then we are facing a renege but chances are much higher to break it rather than bonce from it and continue its bullish trend as we have seen a regular negative divergence in higher time frames on the past bullish trend so we can be optimistic about its breakage and pass trough it. it may take time but ultimately it shall be broken.
keeping a TP at it will not give us a proper RR ratios so it is better to be optimistic on its breakthrough and wait for 120 pips target...
chakerim ;)
Reply
YHZ-FX Vicious_1m
@Vicious_1m, thanks Bro, I usually trade +_20 pips in each trade and close all position during day, but let see :)
+1 Reply
@YHZ-FX, well then as you have shorted it on 1.1842 then i believe you are only a few pips away from your 20 pips tp which is 1.1840.
Which shall get hit by end of the day...
Best of luck.
Cheers...
Reply
YHZ-FX Vicious_1m
@Vicious_1m, its depend on Volume and also Resistance and If I am in front of PC to check, but for limit order will leave it to +-20 pips.
Also due high negative Correlation Between EU and UJ, The same time I went short base on VP analysis and also knowing correlation.
+1 Reply
@YHZ-FX, but where do you get your Volume data? i don't think any liquid provider or data vendor can provide you any Volume data...
Reply
YHZ-FX YHZ-FX
@Vicious_1m here in tradingview click on indicators then go to Volume Profile.
Reply
@YHZ-FX, are you trading CFD or future derivatives?
Reply
@YHZ-FX, i am not asking about the indicators. i am talking about the data vendor of Indicator, as FX market is a decentralized market so we can not have an accurate volume data and its indicator is also some how useless unless you are trading a currency future in an exchange, where you get the volume data from or a single STP market maker...
+1 Reply
YHZ-FX Vicious_1m
@Vicious_1m, you are right, if you want to get accurate data you must use Future data which is centralized but this data is enough for analyse Forex indeed.
+1 Reply
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