The EURUSD is in an up trend., it is making a correction which could be just part of a bigger corrective structure. Buying the break out is still a good idea even if turns out to part of a bigger corrective structure.
Trade with care Trolls stay out!!
Комментарий
⋅
Hi Guys tomorrow Monday 22 I will be doing a free webinar. We will take a look at the charts for possible trade setup for the coming week.
The EURUSD did not break to the up side. It has now broken the up trend line so any consolidation under this trend will be a sell set up. I will also be watching for reversals.
I am leaning more towards a short...But we will see. Here's my view Good luck.
Fibtree
⋅
This is also a real possibility, in my opinion, thats why I would not jump in long right at market open :) Your scenario also shows my assumption that a downmove would not be slowed by further Fib levels and could go right to a retest of the old Trendline you show.
One very important aspect is that a drop to this area and this Trend line woud effectively clear out the stops below the chart area to the left(under the big thrust) and would also retrace this thrust, that has undoubtly attracted a lot of retail longs.
If I were a dealing Desk I would not want them in my book when we move above 1.15 in the next time... In fact I will go so far today and say that we wont see sustained (long term) upmove before this area has been cleared ;)
Adriese
⋅
Yes, can't wait to see as well:)
Fibtree
⋅
Hey friend, seems like you nailed it, watch 1.093 closely and secure your profit when we reach it :)
2sexy
⋅
Thanks, and yes I am watching it closely.
BlackPipper
⋅
you won, finally :)
RobertHerdman
⋅
You don't have to be an economist to know the most important dates coming up and why you should pay attention to what world leaders decide to do to their currencies.Here they are: G20-Feb26-27, ECB-Mar.10, BOJ- Mar15, FOMC- Mar16.And yes,support and resistance does work and so do trend lines."Cueing off Support and Resistance Levels,by Thom Hartle (2) courtesy of HPotter is one of the most important indicators you can use.Watch volatility this year because very dramatic events are coming.
zerohedge.com/news/2016-02-20/world-red zerohedge.com/news/2016-02-20/why-according-one-bank-massive-central-bank-intervention-imminent