EURUSD watching for a pull back to get short

2018年5月16日

With the market having broken the sideways price action the market is in a strongly bearish trend. These sorts of trends can continue for a very long time. We as prudent traders don't want to make assumptions on when the trend will end, but rather look for setups to get in line with the overall trend. In the case of the EURUSD that is going to involve us waiting for a price pull-back into the last swing low. That last swing low will act as a major resistance line. If price does swing back we will then watch for any sort of bearish candlestick action such as an evening star, pin bar, bearish engulfing bar, etc.