I've formed a new bias on eur/usd - in my opinion it's likely eur/usd is going to retrace after all it has been plummeting since 2014-05-08 and we are also a at a pretty big resistance level (to see that you can squeeze this chart or take a look at the weekly), we now how a possible double bottom with bullish divergence, massive one. So now may be the time eur/usd could finally retrace.
Possible targets or end of this retracement in my opinion will probably, but this could depend immensely on fundamentals, be at the structure and fib .382 (of the the big move) level confluence.
Now this is a bias and I will look for opportunities and good setups, I won't just buy now, because of it all. To enter a long position on double bottom i would first look at volume if it there a lot of volume this double bottom trade could be very risky and take out stop loss orders quickly and it could also rally, but i think that it would be smarter to wait for volume to get small and maybe then buy a lite bit, but remember as treider our own opinion is the most important to us AND THIS ALL IS OPINION NOT ADVICE NOT A CRYSTAL BALL PREDICTION I'M SAYING WHAT I THINK IS LIKELY TO HAPPEN. p.s. + additional indecision candles would be a good sign
BEWARE OF THE NEWS
and economic calendar events.
Written by : Wizard, whit --> NO CRYSTAL BALL.
US Dollar going down --> This would also be a catalyst for natural gas you may want to check out my idea about it can be found in the Related Link's Is Below.
Possible targets or end of this retracement in my opinion will probably, but this could depend immensely on fundamentals, be at the structure and fib .382 (of the the big move) level confluence.
Now this is a bias and I will look for opportunities and good setups, I won't just buy now, because of it all. To enter a long position on double bottom i would first look at volume if it there a lot of volume this double bottom trade could be very risky and take out stop loss orders quickly and it could also rally, but i think that it would be smarter to wait for volume to get small and maybe then buy a lite bit, but remember as treider our own opinion is the most important to us AND THIS ALL IS OPINION NOT ADVICE NOT A CRYSTAL BALL PREDICTION I'M SAYING WHAT I THINK IS LIKELY TO HAPPEN. p.s. + additional indecision candles would be a good sign
BEWARE OF THE NEWS
and economic calendar events.
Written by : Wizard, whit --> NO CRYSTAL BALL.
US Dollar going down --> This would also be a catalyst for natural gas you may want to check out my idea about it can be found in the Related Link's Is Below.
