We've got two nice rejections of 61.8% fib level from the top of the structure + RSI divergence on H1. It's enough for me to consider a short trade on this pair.
I am targeting next fib level @ 1.27700 as soon as the current parallel channel is broken to the downside.
Best,
Jesse
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guys, as mentioned the trade should be taken IF the parallel channel as shown below and above is broken.
Cheers
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Patience patience as always ;) could be a nice 70+ trade
Trade active
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I am not waiting for the breakout, already getting in
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Price is going up, volume is going down = bearish.
NEW TARGET at 1.27680
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Bearish volume building at top of this corrective structure
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ok guys this should technically be our top
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Sorry the windows was cut again
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window*
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ok guys, being rejected at 61.8% of the Pullback.
Volume on M15 is going down, I am keeping my current short
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What we can see is that this up move is not supported by increasing volume which could let us think that bears are waiting at the corner to short it again. This 61.8% fib level could be the level of reaction which I am expecting since this morning! Wait and see. Red news in 15 minutes.
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Orange dotted lines = fib level of the bigger structure
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there you go
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I know you guys can barely see something but what's interesting to observe is that:
1. There was a down impulse then a pullback which was rejected at 61.8%. 2. It went then down and up again and this was also rejected at 61.8% fib level
I have lowered my target as shown in the chart.
Off the charts a couple of hours.
Best
Jesse
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New target @ 1.27580
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Bears are in da place
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increasing selling volume
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Guys, check this out: The candle broke the support and CLOSED below it which is a good bearish sign as well.
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off the screen til tomorrow guys. Monitor your positions ;)
volume is decreasing = Pullback
since the trend line was broken + we have a high volume bearish candle I don't expect it to be deep...
Let me know when you close it I am curious ;)
Best
Jesse
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Quick update before tomorrow:
I am selling any pullback
Have a good evening/night guys!
Jesse
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As you can see, the trend line was broken.
Volumes are indicating it's bearish and are diminishing currently suggesting it's a pullback.
RSI trendline on H1 was broken as well confirming it's gonna go down.
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I am adjusting my target
We have a high volume nod at 1.27700 suggesting bulls will defend this level pretty hardly.
My 1st target was good after all ;) 1.27720 to be on the safe side.
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Currently trading at 38.2% retracement from top
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Hey guys, the USD is super strong,it looks like the pattern has changed. I am out of this trade.
Closed my position, not developing as expected and I’ll wait until the USD news after US open
SwissPips
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@CBMotivation, yep it went higher, you're right being careful !
CBMotivation
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@SwissPips, reducing my risk profile, got a few trades open, a nice downside move will get me interested again. We’ll see at 13:30 when US reports come out.
SwissPips
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@CBMotivation, you're absolutely right that's the good thing to do
CBMotivation
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What happened to patience ha
SwissPips
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haha, I am seeing exhaustion candles on m15 meaning we could possibly already have a top in the current structure. That's why.
CBMotivation
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@SwissPips, just pushing your buttons, I was in close on Friday