Dear followers,
In the last couple of days I saw a lot of traders are going long on EURUSD pair. I posted a chart when EU was 1.16488 on one of the top trader's post as I think many are going to get rekt. Since then, it has dropped around 80 pips.
My reasoning behind it was because:
1) EU is still in a downtrend - lower lows and lower highs.
2) When the price is at a relatively high position (look at the upside potential compare to the downside) we should focus on shorting the market
3) DXY is having a bullish outlook.
4) There is a gap in 2017 which may be filled
Hence, I would wait for EU to pull back to the 2 resistance areas (red block) and watch for bearish signs, such as bearish pin bar, double top, inside bar breakdown etc, and short. Depending on the location of the pullback, the two targets should be $1.119 & $1.082.
If you really want to go long, you should at least wait until EU breaks above the downtrend line and makes a double bottom.
Taiwan Bear
In the last couple of days I saw a lot of traders are going long on EURUSD pair. I posted a chart when EU was 1.16488 on one of the top trader's post as I think many are going to get rekt. Since then, it has dropped around 80 pips.
My reasoning behind it was because:
1) EU is still in a downtrend - lower lows and lower highs.
2) When the price is at a relatively high position (look at the upside potential compare to the downside) we should focus on shorting the market
3) DXY is having a bullish outlook.
4) There is a gap in 2017 which may be filled
Hence, I would wait for EU to pull back to the 2 resistance areas (red block) and watch for bearish signs, such as bearish pin bar, double top, inside bar breakdown etc, and short. Depending on the location of the pullback, the two targets should be $1.119 & $1.082.
If you really want to go long, you should at least wait until EU breaks above the downtrend line and makes a double bottom.
Taiwan Bear
Not
EURUSD is looking a bit bullish at the moment. But please watch the price action around 1.185 because:1) There are resistance structures at 1.1826 & 1.1866
2) AB=CD
3) Fib extension of AB
4) RSI close to 80
5) EMA144 & EMA169 happen to confluence with all the above
I might consider to short around 1.185 if there is any bearish pin bar, double top on the lower time frame etc.
Not
So funny, people un-follow me when I make bad predictions as well as good predictions. This analysis was 100% accuracy with 300+ pips profits.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.