EUR/USD update: Close to 2nd short zone, Cypher is the 3rd...
Looks like we tested the trendline today and we got close to the shark TP2 (blue pattern)...
I wanted to short the second blue circle but wasn't around to follow up on this so I'm not in, too late now for me but a second approach of that zone is still possible tomorrow, specifically watch the area 1.1347-1.1356, if confirmed by lower TF momentum or ending structures it might still be good to short...
For now the RSI still has room to go up, stochastics is close to overbought again but that one could easily continue higher also.
The internal wave count also suggests it could go further up, i.e. IF it is a bullish wave structure and my 1 and 2 are correct...
If I can't watch this closely tomorrow then I will probably wait for the possible Cypher to complete. If confirmed on lower TF's the Cypher could be another nice short trade (as the pink bat I shorted back in May...)!
This was the first short zone:
Keep an eye on the weekly also, we tested the MA(100) which could give a retracement but if we draw a trendline over the down move and see it as a retracement then we have a bullish breakout which could cause us to move higher, so piercing the MA(100) is very well possible...:
I wanted to short the second blue circle but wasn't around to follow up on this so I'm not in, too late now for me but a second approach of that zone is still possible tomorrow, specifically watch the area 1.1347-1.1356, if confirmed by lower TF momentum or ending structures it might still be good to short...
For now the RSI still has room to go up, stochastics is close to overbought again but that one could easily continue higher also.
The internal wave count also suggests it could go further up, i.e. IF it is a bullish wave structure and my 1 and 2 are correct...
If I can't watch this closely tomorrow then I will probably wait for the possible Cypher to complete. If confirmed on lower TF's the Cypher could be another nice short trade (as the pink bat I shorted back in May...)!
This was the first short zone:
Keep an eye on the weekly also, we tested the MA(100) which could give a retracement but if we draw a trendline over the down move and see it as a retracement then we have a bullish breakout which could cause us to move higher, so piercing the MA(100) is very well possible...:
تعليق:
Pinbar..., I haven't looked at lower TF's but I think it could go back up again..., I really hope it does since RSI and stochastics are still overbought, if we get to the Cypher completion with extreme overbought levels we should have a high probability short trade!
I am going to set some sell orders for this...
I am going to set some sell orders for this...
تعليق:
Will it re-test the broken 'down' trendline and then continue up...?
تعليق:
If not taken already, take profits soon..., first possible reversal level coming up...
Not the only one though so try and keep some part of your shorts open just in case...
Updates here:
Not the only one though so try and keep some part of your shorts open just in case...
Updates here:
Anyone who's short from the top: Good job!! Maybe keep SL tight above just in case though...
Stochastics overbought again (higher than the last time) but RSI has room to go up some more.