EURUSD breakout pull back short
Failed to make a higher high as price touched the close of the previous high bar at 1.6627, which triggered an impulsive move downward. This looks like the start of the bear move, but still being weary until it breaks 1.08228, which seems to be like the most significant role reversal level. Until then, I will try to break down the move down into 3 trades in order to reduce risk. The first one is a breakout pullback play on the 4H. I'm waiting for prices to move up into the 1.1336 level to go in short to 1.1215 level. Depending on how price closes around that level will determine if I hold this trade, or if I get out and wait.
Nota
Trade active.Nota
DXY is pushing higher and looking to test a trendline real soon, so I'm going to hold this EURUSD short for further lows into the second level. Entry for the second position would have to be after a break and close below 1.12154.Nota
2nd position should be active now.Nota
Price cleared the 1.22 level with conviction. We should have a clear move to the next target.Nota
Price is approaching target 2. To see target 3, we'd have to have a break of the trendline, which would eventually squeeze prices to break the support level at 1.10667.
Penerbitan berkaitan
Penafian
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.