Hello Guys,
here i'm sharing my idea on EUR/USD currency pair, usually i'm interested in long term trades trying to catch the very top and bottoms in the patterns. in the 2 charts you can see the pair in monthly and weekly time frames.
1st: Starting with the monthly we see that the price breached very strong are which acted as resistance & support since January 2015 (the red rectangle) despite that i see that this pair will go down to 1.072 but i would wait to October ends, if we see the price close below this red rectangle so that will be very clear sign to short this pair, but i would say price need to retest it first before it goes down.
2nd: weekly chart with fibo, so we see that price dropped from 1.25 down to 1.13 and then back to fibo level 38.2% (1.178) and then headed down again, i would wait until price breaks the 0.00% (1.130) then i would short it. one more thing which strengthen my short idea is seeing this gab which was created in April 2017 (marked with the red arrow on the weekly chart) and as we know that most of the times all gaps need to be fulfilled.
if you have any comments or different ideas please let me know,
what i shared now is only my idea and it's not s signal!
here i'm sharing my idea on EUR/USD currency pair, usually i'm interested in long term trades trying to catch the very top and bottoms in the patterns. in the 2 charts you can see the pair in monthly and weekly time frames.
1st: Starting with the monthly we see that the price breached very strong are which acted as resistance & support since January 2015 (the red rectangle) despite that i see that this pair will go down to 1.072 but i would wait to October ends, if we see the price close below this red rectangle so that will be very clear sign to short this pair, but i would say price need to retest it first before it goes down.
2nd: weekly chart with fibo, so we see that price dropped from 1.25 down to 1.13 and then back to fibo level 38.2% (1.178) and then headed down again, i would wait until price breaks the 0.00% (1.130) then i would short it. one more thing which strengthen my short idea is seeing this gab which was created in April 2017 (marked with the red arrow on the weekly chart) and as we know that most of the times all gaps need to be fulfilled.
if you have any comments or different ideas please let me know,
what i shared now is only my idea and it's not s signal!