SHORT ON EUR/USD - Dont Trade on Friday!

12 июн. 2016 г.

Description: As shown above we have EURUSD . This pair is currently Bearish , Price Currently Around 1.1250 , Which is Middle Area. On the Monthly
Price has been Bearish Since 2014

Indicators:
(Monthly) RSI In Bearish Area ,
20 & 50 MA's Crossing 200
=A Month Ago price tried to break 20 but could not close Above
-Tried Earlier this Month Price Rejected Upside
20 MA VERY STRONG!

(Weekly)
Price (As shown on chart Above) - Completed More than 3 Tops
Fib: Price around 0.236 Region
Candles: Selection Of Inverted Hammers and One Bearish Engulfing Within Weekly Period.

(Weekly)
Currently Bullish Since early 2016, Following Bullish Channel Until Current, Today ( As shown In chart)
At the Top of the channel, (see Monthly) Prices Reaching Bullish Limit

Duration: Long Term

Decision: I will short this pair
(Aggressive) With a break below the Bullish Trend line Support And break of 20 and 50 MA, I Will Close My position When Price Reaches Monthly Support (1.1110)

(Conservative) Wait for Price to Reach Monthly Support (1.1110), Break and Re-test New Found Resistance, Fib's Completed 0.618 From (prev Monthly - Monthly Support - Daily Resistance 1.1320) - I will close my position/Take Profits if price reaches around 1,27 & 1.41 Area

. I will post An Aggressive And Conservative Entry Below in the Trade Setup section.

Aggressive Trade Setup: (AGG ONE)
ENTRY: Sell Stop Order: 1.1190
STOP LOSS: 1.12496
TAKE PROFIT: 1.1115

Conservative Trade Setup (CON Two)
ENTRY: Sell Stop Order: 1.1089
STOP LOSS: 1.1180
TAKE PROFIT: 1.0915

Thank you for viewing my idea. If you decide to take this trade,please leave a comment and a thumbs up. I will be happy to stay in touch to see how the setup is planning out.
Your also welcome to post your analysis below.

Remember to always trade your strategy
P.S
DO NOT FORGET ABOUT BR-EXIT, DONT TRADE ON THIS DAY UNLESS YOUR ACCOUNT CAN WITHSTAND VOLATILITY

Happy Trading