EURUSD - Contradictions in one picture - Trading Idea

23 May 2017

Hey Everyone!

Yesterday, we were buying EURUSD with a good 1:3.2RR win.

Since then, my view has changed a bit. Let's look at this 1h picture.

Reasons to buy:

• It's still going higher, making new highs and new lows (we call it an uptrend)
  
• The trendline is still valid and acted beautifully when it came to hold the price
  
• This retracement can be retest of the trendline, then we go up, up and away
  
• If you look at daily chart, according to price action it can still hit the previous shadow of 9 nov.
  

Reasons to sell:

• I have seen it many times, making new highs and lows and then, out of the blue it just broke down with candlesticks like that
  
• On 1h and 4h we have a double top which is even more confirmation
  
• Candlesticks on 1h shows loss of control by the bulls
  

All things considered, I will be monitoring this trading idea closely as this can be a bear trap as well - a moment when everything shows that it will go down but in the end it goes up - and I rather wait than jump in for no reason.

23 May 2017

Not

As you can see there is a box around the trendline and the horizontal line which I call area of interest. After proper confirmation I will know whether to sell or buy from here.

23 May 2017

Not

Perfekt bounce up as I said above. 20pips let's see how it goes

23 May 2017

İşlem aktif

I'm in for a long position to check if we break out or not.

BUY @1.1248
S/L: 28 pips away
T/P: will be managed but around 50-60 pips

23 May 2017

Not

The sell off is now a higher chance, we are at the exact same place what I have described this morning. Are we going to sell or buy? We'll see soon.

23 May 2017

Not

Perfect breakdown, now waiting for a retest and then I jump in. More tomorrow.