Euro / Dollar ASDiupdate EURUSD Trading Plan
On Daily TF, a bearish engulfing candle occur. A Double Top occurred as well. Please refer to the chart below
Technically, mid-term I am EURUSD biased. Intraday there will be ebbs and flows that are tradeable, both ways. On Friday price had a waterfall move that exceeded the EURUSD daily range (70 pips). By default, I will always turn my short-term bias into a "retracement mode", hence I am looking a test on the potential daily pivot for Monday where I will look for a bearish engulfing candle so I can short it.
(Purple thick arrow) : I am not ruling out upon Australian open/Tokyo open, the EURUSD short continues and perhaps test further low. When that happens, I will still wait for a pullback and perhaps a test on the weekly pivot and wait for a reaction there (look red arrow)
(Green arrow) : another potential that could happen is a full retracement and paring the EURUSD losses OR at least 68-80% of the Friday move. Unless it is backed by news or obvious sentiment, I will probably ignore this move and wait for a bearish continuation signal. A retest on Friday's high would be awesome too. If theres a breakout from it then my bearish plans would be invalidated
Technically, mid-term I am EURUSD biased. Intraday there will be ebbs and flows that are tradeable, both ways. On Friday price had a waterfall move that exceeded the EURUSD daily range (70 pips). By default, I will always turn my short-term bias into a "retracement mode", hence I am looking a test on the potential daily pivot for Monday where I will look for a bearish engulfing candle so I can short it.
(Purple thick arrow) : I am not ruling out upon Australian open/Tokyo open, the EURUSD short continues and perhaps test further low. When that happens, I will still wait for a pullback and perhaps a test on the weekly pivot and wait for a reaction there (look red arrow)
(Green arrow) : another potential that could happen is a full retracement and paring the EURUSD losses OR at least 68-80% of the Friday move. Unless it is backed by news or obvious sentiment, I will probably ignore this move and wait for a bearish continuation signal. A retest on Friday's high would be awesome too. If theres a breakout from it then my bearish plans would be invalidated
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Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.