Really like the idea of shorts on this pair for a number of reasons, well 2 mostly! Firstly we're back up at the top of a descending channel and this pair has been falling for a long long time. And more perhaps more importantly is that the consecutive bullish candle count has never been this high since 1993 - it doesn't happen often and when it does it falls over....
As per the video idea price action is at a perfect place to sell, great risk reward. we've seen some lower highs and we are at a place now where it could sell off again.
As per my longer term EURJPY video idea last week I have now entered short waiting for the 73% fib to be hit which is my preferred level on retracements. It's a longer term trade so need to let it play out
Here's another longer term idea on this pair and I'm already involved. Aussie losing strength over a long period of time and has tried already 3 times to break out of a range and failed every time, we can short now and hold on until we see a 50% retracement from the previous bullish leg as demonstrated.
As per the video the pound has been in decline over the past years so am looking for longer term shorts. On the weekly price action looks toppy and there's a good risk reward potential for entering short now looking for a retracement to 50% or even further. Whether it will ever reach parity or simply bottom out and climb remains to be seen in the future.
As per the video we're at a point for a long entry on the next leg up then we wait for breakout situation. Price action has till now respected the dynamic trendlines. OK risk reward, maybe worth waiting to see if price dips down into the dynamic support zone, depends on your rules of course.
I've been tracking the selling of this pair for some time and I think it's time for a correction. Yesterday we saw a big sell off presumably to clear out some stops which lead to buyers coming in and an interesting daily candle close. That's just the story but if you're looking for technical evidence it's lining up nicely with the parallel dynamic...
EOS USD target remain the same $55 Longer term lead by Coming huge developments in EOS
trade Analysis based on Price Action & Fundamentals
With risk management you will never loss money..
Ridethemacro
I think bitcoin has a good uptrend but there is to much of emotion in the market because everybody wants to get millionare. The Price does jot even break out over the Middle support and than it has to turn from resistance into Support and than you coouuuld say it is a bulltrend to the upside and reach the higher price level. Not i think the price has in longer...
We've seen some rapid bullish movement on this pair over the past few weeks, almost 10 weeks straight up. This pair is well overdue a major correction and I really like this area to take a short. We're just about on the 886 reversal on what is a HTF bearish chart. Until price action breaks those previous highs this is still bearish in my eyes and this area gives...
WITH NOTHING IN SIGHT TO STOP THIS WE ARE PLACING STOPS IN PROFIT AND CONSTANTLY MOVING THEM UP FURTHER PER THE DAY IF NOT EVRY FEW DAYS TO LOCK IN ALL THE GAINS
EURUSD - Longer term, i believe the daily bottoms will be reached at least due to the overall direction on the daily TF
will see how it goes.
Any questions feel free to ask
The way that I count the waves, tells me that it has finished 5th wave and should fall. Eur is overall overvalued. Euro zone economy is not better than 5 or 6 months ago.
