Hi Team,
We are almost at the Fed rate decision, which is widely expected to see a rate hike that will bolster the strength of the dollar.
EURUSD is completing an ABCDE corrective climb within an established channel, and this looks likely to complete just before FED rate decision.
We can use this for two trades!
The first is a scalp buy up to the larger time frame sell zone. The second is this larger short position. Though swings could also be taken from here, we will almost certainly see retracement following first impulse, so it's an early TP.
Blue region dictates expected major sell zone. A rise above this invalidates entry. Look for bearish rejection at channel resistance and enter with TP and SL as charted.
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DrBear
We are almost at the Fed rate decision, which is widely expected to see a rate hike that will bolster the strength of the dollar.
EURUSD is completing an ABCDE corrective climb within an established channel, and this looks likely to complete just before FED rate decision.
We can use this for two trades!
The first is a scalp buy up to the larger time frame sell zone. The second is this larger short position. Though swings could also be taken from here, we will almost certainly see retracement following first impulse, so it's an early TP.
Blue region dictates expected major sell zone. A rise above this invalidates entry. Look for bearish rejection at channel resistance and enter with TP and SL as charted.
Like what I do? Please like, comment, and share!
DrBear
