The market is back up against a major level of structure on the 4hr chart and has put a bearish engulfing candlestick while the price is still under RSI 50%
Before we analyse the setup, realize its aggressive entry purely based on trendlines n price action. If you are aggressive trader and your trade plan aligns with this, then short Eurusd, else just watch how it works out. We won't be millionare in single trade, so no harm in watching aggressive setups but we will surely lose some dollars if it fails :)
Happy...
Potential short term bearish trade - Aggressive C sell entry for a bullish AB=CD pattern.
Price must remain below the 61.8 Fib level and the hourly 50 SMA line.
First target - 2065
Final target - 2058
The bearish setup is inside a broader daily bearish setup I mentioned in my Weekly Markets Analysis newsletters - Read more about $SPX and other trading ideas ...
Wait for a candle to break below, close below the B point. Sell on retest.
T1: at bullish Butterfly completion
T2: at area of confluence of minor Fibo level with old major structure
**WT +99 Pips**Taking an aggressive C sell position in NZDUSD into Resistance. This trade aligns with the short position I am taking in NZDJPY. Aggressive C entries, are exactly what the name implies. AGGRESSIVE. I do not take aggressive C positions unless I have strong signals to do so.
