Hi guys, it's been a very long time since I last published a chart. Sincere apologies for those who have been waiting for it.
The reason I am publishing this one is because all stars are getting aligned for a short of EURUSD around 1.0800
SL should go above the previous high and 1.618 extension which are around 1.0830
As always, trading is a game of probabilities and finding an edge. With all the above in mind, I think we have an edge and the probability of a EURUSD reversal in the zone. But as you probably know by now, the market is always right.
Let me know what you think ... and if you appreciate the idea, thanks for hitting that like button.
The reason I am publishing this one is because all stars are getting aligned for a short of EURUSD around 1.0800
- AB=CD potential completion
- 1.0800 even handle
- Potential Bat Pattern completion
- 1.618 inversion of last move down
- 1.272 - 1.414 extension of last move up
- Fib confluence
- historical resistance with nice rejection at this level
SL should go above the previous high and 1.618 extension which are around 1.0830
As always, trading is a game of probabilities and finding an edge. With all the above in mind, I think we have an edge and the probability of a EURUSD reversal in the zone. But as you probably know by now, the market is always right.
Let me know what you think ... and if you appreciate the idea, thanks for hitting that like button.
Note
Here is a better view on that Support/Resistance zone around this level Note
On the weekly chart it is even more clearTrade active
Short @ 1.0798SL : 1.0845
TP1 : 1.0675
TP2 : 1.0610
Trade closed: stop reached
Check out my FREE indicator scripts:
► tradingview.com/u/Profit_Through_Patience/
► tradingview.com/u/Profit_Through_Patience/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Check out my FREE indicator scripts:
► tradingview.com/u/Profit_Through_Patience/
► tradingview.com/u/Profit_Through_Patience/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.