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Re-Entry opportunity
Last time I posted about reasons to go Short with EURUSD. And I earned 173pips of profit. Price had pullback after that, and testing resistances once more. Now, we are having second opportunity to trade. The hourly chart formed Butterfly pattern.
Pending entry placed below the 61.8% of Fibo. The initial target is 1.1050.
If there was no limitation on the order numbers, I would place one more pending order @1.1265. This is the second, and the most probable turning point.
Pending entry placed below the 61.8% of Fibo. The initial target is 1.1050.
If there was no limitation on the order numbers, I would place one more pending order @1.1265. This is the second, and the most probable turning point.
Reasons to Short EURUSD
Reason 1:
This was confirmed about 2 months ago. May be, many of traders keeping their short positions since then. The big Pitchfork shows EURUSD is already below the lower line, and can't get upside for 2 months.
Reason 2:
There is a clear Butterfly formed right after the pullback to the Pitchfork LowerLine. I'm keeping my Short entry right from the red arrow @1.1322, which is a 161.8% of the Fibo.
Reason 3:
Wedge breakout and pullback. (You can see there I had 1 more short position with 75pi…
This was confirmed about 2 months ago. May be, many of traders keeping their short positions since then. The big Pitchfork shows EURUSD is already below the lower line, and can't get upside for 2 months.
Reason 2:
There is a clear Butterfly formed right after the pullback to the Pitchfork LowerLine. I'm keeping my Short entry right from the red arrow @1.1322, which is a 161.8% of the Fibo.
Reason 3:
Wedge breakout and pullback. (You can see there I had 1 more short position with 75pi…
3 reasons to go short in GBPNZD
Dear traders,
1. GBPNZD bullish rally was stopped right on the Fibo's 161.8. Here we can see that this resistance is very strong.
;
2. 4H MACD is overbought, and signalling to Sell.
3. According to Dow Theory, there is C point of the pitchfork is confirmed.
Target is Fibo's 50% @1.3360.
1. GBPNZD bullish rally was stopped right on the Fibo's 161.8. Here we can see that this resistance is very strong.
;
2. 4H MACD is overbought, and signalling to Sell.
3. According to Dow Theory, there is C point of the pitchfork is confirmed.
Target is Fibo's 50% @1.3360.