TRADE: EURUSD: SELL@1.14400 Too Much Confluence To List....

14 Okt 2015

I'm now SHORTING this pair on the completion of the bat pattern , the crab pattern and the butterfly patterns as well as the ED pattern and my overall wave count expectancy.

Prices have now also reached a MAJOR SR Structure that appears to be resisting price advances. There is bearish price action around this area as well as per my previous post (see Related Ideas: "UPDATE #1:EURUSD: Bat FINALLY complete! But Should you sell now?"). . If my count is correct, then the next move down will be a wave C to complete the larger wave (B) of the overall ABC correction this pair is in.

You can see more of my overall view on this pair in my previous posts:

MY TRADE PLAN
I am now SHORT on this pair and will expect a rather large move down from here. Prices are now testing and probing that MAJOR SR Structure that I have on my chart.. My stops will go above the X point of the bat pattern allowing for some room for "stop hunting" in case that occurs which would be i the form a spike up past the MAJOR SR Structure and back down again.

*DISCLAIMER:
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!

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