108.500 support level finally broke down with the risk off sentiment coming from US vs IRAN tension. now we are looking for a retest of the broken support to confirm the new resistance. wait for rejection below 108.500 before placing short trade. ________________________________________________________________________________________________________________________________________
Traders! if you like my ideas and do take the same trade, please write it in comment so we can manage the trade together.
Disclaimer the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. _________________________________________________________________________________________________________________________________________
Thanks for your research! I am in! I am holding until 106.474 Support. I know risky... But this is why I love this. I will manage trade through the night into the morning!! Things are about to light up...
siyata
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Where do you recommend putting a stop?
HilgardMuller
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Brilliant work yet again, well done LCFX this short trade is falling out of the sky just like you predicted
@Xspot, Yes and my trailing SL created massive profits
Xspot
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@HilgardMuller, lucky cause move took the whole drop back
HilgardMuller
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@Xspot, Yes I do think it will still continue down, all trends have corrections, this one just had a massive correction but as we speak it is moving downwards again
Xspot
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@HilgardMuller, so you think from here forwards it continues back down what about the news this week on the dollar?
HilgardMuller
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@Xspot, This was only the second test of the H4 support area and it seems to me that the H4 support has now become resistance, the upwards trend was only the first wave (as you know all trends comes in waves. In my opinion it is now another downwards trend towards the Daily Support area that was tested and broken already 3 times, if it breaks through this area there wont be much stopping it going further down. Yes a Positive Non Farm Employment Change for the USD is expected on Thursday which could have a slight negative impact on this trade idea. I still have a short trade on this one and simply rode the first wave with a trailing SL once I saw how fast it was moving (as I mentioned in my own trade analysis comments
HilgardMuller
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@Xspot, you are welcome to go and read the whole analysis over here