UmarAbdurRehman
Long

EURUSD possible reversal & Buy setup

FX:EURUSD   Euro / U.S. Dollar
EURUSD             broke out the pennant pattern last week, price action fell quite sharply, but I am wary of the medium term momentum is getting weak. I am expecting for a possible reversal. Personally for me this could be an opportunity to build a trade of the year.
Watch this market carefully and look for long plays if you have your trading strategy.

Good Luck Traders!
Comment:

As mentioned 1.1310 mark for longs-so far my position is up 200 pips.
Trade closed: target reached: 280 pips banked, 28x trade.
Real time analysis: https://t.me/TradeEverest
Do you see the today's low (1.1330) as a possible rebound point for the bull reversal? Or do you expect it to keep falling?
Reply
@r5e5g1, I see a scope for rebound after price tests 1.1310, will see if it shows signs of compression.
Reply
r5e5g1 UmarAbdurRehman
@UmarAbdurRehman, We are right at 1.1310 mark, the way it looks I don’t think it’ll hold. Do you think the set up is still valid?
Reply
@r5e5g1, market showing signs of compression, lets see!
Reply
below 50 day moving average. not wise to fight the trend.
Reply
@waverider1, That's just a tool, but price is leader so let the market decide my friend :)
Reply
Hello, yes that Idea would confirm my Idea from May 29th. That means we would see now a upward move to complete the right shoulder of the Bigger weekly H & S: here:





But, on friday we broke under the neckline, so I do more expect a retest of the neckline and than a fast fall down to around 1,0800.



We will see,

all the best, Sascha
Reply
@Lilalisa, Hey, your study looks great. lets see over the coming days. Best of luck.
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out