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tntsunrise
Jan 10, 2017 12:51 PM

EURUSD 1.0612 is the key. Short

Euro Fx/U.S. DollarFXCM

Description

EURUSD 1.0612 is the key.

We can see the price action when price hit into this zone.

What is that?

Rejection!

Conlusion: we can short EURUSD as long as it didnt break
above this structure.

Fisrt Target is 1.0400
2ND Target is 1.00

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Comments
LeonardoModi
Hi!
Do you recommend to re-enter here? I think it can be a good idea...
Tucson2016
It was a good short for short time. I would recomend to close all shorts now. It is going up.
jeanne_labelle
Hi Jack,
I hope you 're right.
I m short in EURUSD...
But i think that i have done a mistake.
Why ?...
Because consensus is for parity between EUR and USD
And when the consensus declares that prices goes to one direction, price often goes to the other way.
Trading is psychlogy !
So I am afraid that price of eurusd is flying now to 1.08 or 1.10
Hope that heavens of Chartism are with us
Bye
MartinMoss
@jeanne_labelle, I think it will go up. Wieslaw from Consilium Invest consiliuminvest.com/ideas?idea=3684-eurusd-m15 in short interval (M15) says it will go up..
tntsunrise
@jeanne_labelle, it's ok. don't overthink too much. use stop loss to protect yourself
Zink
@jeanne_labelle, there is a saying in wallstreet that "when all say sell is time to buy"
abdulmosawer
@jeanne_labelle,
yes i am with you brother i think that the price will move up to the 1.0850 to 1.0900
in the coming week
Calamity
Jack, what do you think 1.0671, it looks going higher .....
val_trader
Hi jack, pleas might you give us an update ? This structure has been broken ?
Trader_Dale
Based mostly on Market Profile and Price Action (daily charts) the strongest levels for short swings are 1.0710 and 1.0765. Heavy volumes were traded between those levels (accumulation) followed by strong rejection of higher prices resulting into renewed sell-off. I think that the sellers will be active there again.
Only thing to watch out for is ECB meeting on Thursday. Basically anything can happen there and I won't be trading during this event.
You can see my analysis here:
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