This is one of my very first ideas that I have shared that I felt has been deeply analyzed and calculated. This Pattern will go long, but I expect it to go short after the pattern has completed. Why? to retrace and hit fibonacci levels such as the 0.5 and 0.382. For those are common levels that the market loves to hit before continuing its destination.
You can...
Gold returned to 1220 last weeks and may be starting next N movement.
+ 4h and 1d stoch and MACD indicators are going N
+ positive hopes for USA economy(?)
+ posible HS or double top with confirmation on 1209
-intraday timeframes are not so bearish
-Trump's coronation...oh wait...innaguration(my English is so bad)
-China in trouble
-i don't really trust this...
USE A STOP LOSS.
I'll let smarter traders short this baby while I stick with the bullish trend by buying the pullbacks.
Responds to news!
Stagflation in progress. Use a stop loss!
They're doing everything they can to stabilize their currency .
It's just not going to help if Erdogan cannot produce stability. Opportunity arises! Sad for the news, tho. ...
In my point of view, the price either bounces off from my weekly important level or it already did bounce off, as you cannot expect the price to hit the line but better view it as a zone. I guess that could be a nice long position up to .71500. If any advice you have towards my trading or the pair, share it with me! I am just a beginner.
Two scenarios for today did not go as I planned, I put here my honest scenarios, in of which I truly believe, I work with long term data based on usual market behavior. I use my strategy called Mikado. I will describe, how it works for me on the next EURUSD idea.
