Multi Timeframe Analysis
My trading philosophy: We don’t short at the lowest of the bearish momentum nor do we long at the peak of a bullish impulse. The safest entries are at the end of a retrace in the direction of the D1 master trend.
Recommendation:
EURUSD had been making impulsive moves to the downside but as we see, the recent retracement candles to the 50% Fibonacci had been exhausted. As the daily downtrend looks forthcoming, I’m looking at short opportunities
Entry rule: 4H chart should confirm that the bullish retrace had turned the bearish with MACD below zero and the price goes below the 10 and 20 EMA. For good measure, check that the 4h and D1 RSI is below the 50 signal line
Potential Entry
I take entries at Institutional Order blocks (billions of dollars worth of orders made by hedge funds, big banks and heavy industries.). Two order blocks made within the last days are at:
1.19824
1.19277
A sell limit at these Order Blocks will drive draw down to nil as soon as liquidity is captured by the markets on these price levels
Potential profit target at the latest daily low or in extension, at 1.17709 or the -27.2% Fibo
Trade short with confidence: COT reports confirm the direction
My trading philosophy: We don’t short at the lowest of the bearish momentum nor do we long at the peak of a bullish impulse. The safest entries are at the end of a retrace in the direction of the D1 master trend.
Recommendation:
EURUSD had been making impulsive moves to the downside but as we see, the recent retracement candles to the 50% Fibonacci had been exhausted. As the daily downtrend looks forthcoming, I’m looking at short opportunities
Entry rule: 4H chart should confirm that the bullish retrace had turned the bearish with MACD below zero and the price goes below the 10 and 20 EMA. For good measure, check that the 4h and D1 RSI is below the 50 signal line
Potential Entry
I take entries at Institutional Order blocks (billions of dollars worth of orders made by hedge funds, big banks and heavy industries.). Two order blocks made within the last days are at:
1.19824
1.19277
A sell limit at these Order Blocks will drive draw down to nil as soon as liquidity is captured by the markets on these price levels
Potential profit target at the latest daily low or in extension, at 1.17709 or the -27.2% Fibo
Trade short with confidence: COT reports confirm the direction